Aduro Clean Technologies Welcomes a Global Multinational Food Packaging Company into its Customer Engagement Program
March 05 2024 - 7:00AM
Aduro Clean Technologies Inc. (“
Aduro” or the
“
Company”) (CSE:
ACT) (OTCQX:
ACTHF) (FSE:
9D50), a Canadian
technology company using the power of chemistry to transform lower
value feedstocks, like waste plastics, heavy bitumen, and renewable
oils, into resources for the 21st century, is excited to announce
the onboarding of a leading, global multinational food packaging
company (“MFP Company” or the “Client”) to its Customer Engagement
Program (CEP).
MFP Company is a prominent player in the global
food processing and distribution sector, boasting an attractive
portfolio of well-known brands. It operates in over 15 countries
and generates multi-billion-dollar annual revenues. At the core of
its operations, MFP Company integrates environmental, social, and
governance (ESG) principles, focusing on innovation and efficiency.
The company is dedicated to recycling or recovering 90% of its
solid waste and aims to reduce plastic use, increase the use of
biodegradable and recycled materials, and minimize the use of
virgin plastic. MFP Company advocates for a circular economy
approach to address packaging pollution, innovating in sustainable
packaging design, and advocating for the reuse and recycling of
materials. This strategy is in alignment with Extended Producer
Responsibility (EPR) principles, underlining its leadership and
commitment to minimizing environmental impact and leading the
industry towards a more sustainable future.
The technical evaluation project is focused on
assessing the potential of Hydrochemolytic™ Technology (HCT) for
recycling the Client’s plastic waste from food packaging. Through
this collaboration, we will conduct direct tests of HCT on the
specific types of plastic waste produced by MFP Company. Our
objective is to showcase the technology's effectiveness and gain a
deeper understanding of the unique waste management challenges
faced by the food industry. The goal is to highlight the advantages
of HCT to MFP Company and develop a customized chemical recycling
solution tailored to the specific needs for recycling food
packaging plastic waste, positioning HCT as a viable solution for
advanced recycling in the food industry.
The necessity for such innovative solutions
arises from the challenges faced by the food industry in recycling
packaging materials through mechanical methods, which often fall
short of achieving the required purity and safety standards for
materials that come into contact with food. Particularly, recycling
multicomponent packaging materials, essential for preserving and
safeguarding delicate foods, proves difficult due to their complex
nature, rendering them nearly impossible to recycle mechanically.
HCT technology emerges as a superior alternative by chemically
deconstructing waste plastics to their molecular level, a
replacement of virgin fossil-derived materials, ensuring compliance
with these standards. Given the food industry's significant
contribution to plastic waste, there is a pressing demand for an
advanced recycling approach that is both technically viable and
economically feasible to recover these materials for reuse. HCT
technology stands out as a crucial development in addressing this
demand, effectively closing the gap in recycling processes.
Central to Aduro's strategy for growth and
commercialization is its CEP, which enables early engagement with
stakeholders and partners with a focus on advancing industry
specific solutions. The CEP is designed to foster informed
technological development, mitigate risks, and drive revenue growth
through deep collaboration with companies. It allows for the
tailoring of Hydrochemolytic™ Technology to meet specific industry
needs, showcasing the company’s commitment to providing adaptable
and effective waste management solutions.
“This opportunity to collaborate closely with a
leading entity in the food packaging sector extends beyond mere
access to waste plastic materials,” remarked Ofer Vicus, CEO. “It
grants us invaluable insights into the unique needs and challenges
encountered by manufacturers of packaging materials, such as films,
containers, pouches, and bottles. This engagement enhances our
understanding of their strategies for future planning and allows us
to showcase our technological capabilities.” He added,
“Furthermore, it aligns perfectly with our objective to connect
with companies throughout the entire value chain.”
About Aduro Clean
Technologies
Aduro Clean Technologies is a developer of
patented water-based technologies to chemically recycle waste
plastics; convert heavy crude and bitumen into lighter, more
valuable oil; and transform renewable oils into higher-value fuels
or renewable chemicals. The Company’s Hydrochemolytic™ technology
relies on water as a critical agent in a chemistry platform that
operates at relatively low temperatures and cost, a game-changing
approach that converts low-value feedstocks into resources for the
21st century.
For further information, please
contact:
Ofer Vicus, CEOovicus@adurocleantech.com
Abe Dyck, Investor Relationsir@adurocleantech.com+1 604 362
7011
ArrowheadThomas Renaud, Managing
Directorenquire@arrowheadbid.com+1 212 619 6889
Forward-Looking Statements
This news release contains forward-looking
statements. All statements, other than statements of historical
fact that address activities, events, or developments that the
Company believes, expects, or anticipates will or may occur in the
future, are forward-looking statements. The forward-looking
statements reflect management’s current expectations based on
information currently available and are subject to a number of
risks and uncertainties that may cause outcomes to differ
materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance, and,
accordingly, undue reliance should not be put on such statements
due to their inherent uncertainty. Important factors that could
cause actual results to differ materially from the Company’s
expectations include adverse market conditions and other factors
beyond the control of the parties. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether because of new information, future events, or
otherwise, except as required by applicable law.
The CSE has not reviewed, approved, or disapproved the content
of this news release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/df1cdc06-27ae-41e4-9a13-a370a1b5ddc8
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