Aduro Clean Technologies Inc announced the pricing of a public offering and concurrent private placement aiming to raise aggregate gross proceeds of up to US$22,805,214. The capital will be used to fund the design, engineering, and construction of a first-of-a-kind demonstration-scale industrial plant, along with ongoing research and development costs and general corporate purposes.

The underwritten U.S. and Canadian public offering consists of 1,028,645 common shares at a price of US$15.20 per share, generating gross proceeds of US$15,635,404 before deducting underwriting discounts and expenses. Concurrently, the company launched a non-brokered private placement, termed the LIFE Offering, of up to 471,698 common shares at the same offering price, targeting gross proceeds of up to US$7,169,810.

Canaccord Genuity is acting as the sole bookrunner for the public offering. The company entered into an underwriting agreement with Canaccord Genuity, representing the several underwriters involved in the transaction. The public offering is expected to close on or about June 11, 2026, subject to customary closing conditions, including the listing of the shares on the Toronto Stock Exchange and the Nasdaq Capital Market.

The public offering is being made pursuant to an effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission. The related base shelf prospectus and prospectus supplement have been filed with securities regulatory authorities in British Columbia and Ontario. The LIFE Offering is being made to purchasers in all Canadian provinces except Québec, relying on the listed issuer financing exemption.

Offering Details

The closing of the public offering is not conditional on the closing of the LIFE Offering, and vice versa. The LIFE Offering may close in one or more tranches on or before a date not later than 45 days from the announcement date. Certain company insiders may participate in the LIFE Offering, which constitutes a related party transaction under Multilateral Instrument 61-101, though the company expects to rely on exemptions from formal valuation and minority shareholder approval requirements.

Aduro Clean Technologies Inc announced that its Next Generation Process (NGP) Pilot Plant achieved 86% liquid hydrocarbon recovery during its latest operating campaign. The results, derived from a 47-hour continuous run using polypropylene recovered from waste plastics, demonstrate the process's ability to maintain steady-state conditions and produce high-quality feedstocks. This performance supports the company's progression toward longer-duration operations and informs the design of its planned first-of-a-kind (FOAK) Industrial Plant.

The campaign was conducted under Aduro's current 24/4 operating model, which entails 24-hour operation across a planned four-day window. Excluding startup and shutdown phases, the plant operated continuously for 47 hours. Steady-state conditions were achieved after approximately 12 hours and sustained for an additional 35 hours. During this period, the reactor, feed-handling, and product recovery systems operated together under controlled temperature, pressure, and recipe conditions specific to the Hydrochemolytic technology.

To evaluate process robustness, the team intentionally altered operating conditions during the campaign. Steady-state conditions were re-established within approximately two hours, providing data on process-control response and operator procedures. Chemical analysis of samples collected during the steady-state window showed product quality consistent with prior batch and R2 experimental campaigns using the same feedstock.

Key Performance Metrics

The liquid hydrocarbon recovered consisted primarily of compounds with carbon numbers of 20 or below, a range typically associated with naphtha cracker feedstocks. The data collected from this campaign is being utilized to refine operating parameters, evaluate scale-up decisions, and support the engineering planning required for next-stage scale-up activities.

Ofer Vicus, Chief Executive Officer at Aduro, stated that the results strengthen the company's confidence in its understanding of the process and help define parameters for the next stage of scale-up. David Weizenbach, Chief Operating Officer, noted that the campaign represents an important operating milestone, demonstrating the team's ability to manage the process through startup, stabilization, and controlled recovery.