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Aduro Clean Technologies Inc. ("Aduro" or the "Company") (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5), a clean 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, today announced the selection of Saipem S.p.A. ("Saipem") for Early Works and Services supporting the development of Aduro's planned First-of-a-Kind ("FOAK") Hydrochemolyticâ„¢ Technology ("HCT") Facility at Chemelot in the Netherlands. Early Works activities are expected to be funded from the Company's existing cash resources and are not expected to require additional financing.
Saipem, a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore, is recognized globally for delivering complex industrial and energy infrastructure projects and brings extensive experience in process engineering, modular project execution, downstream facilities, and industrial-scale technology deployment. Aduro believes this expertise will strengthen engineering and execution planning while supporting efficient progression toward industrial operation.
The selection follows a comprehensive evaluation process and establishes the engineering and project execution framework for Aduro's FOAK Program. The two companies intend to advance the project through a structured, stage-gated execution model that aligns engineering development with technical validation, supporting disciplined progression from pilot-scale operations toward industrial deployment.
The initial phase of the collaboration focuses on early engineering and procurement activities, including review of the Process Design Package, optimization of critical equipment packages, preliminary utility integration, and capital cost refinement. These activities are intended to mature the project definition while incorporating operating data generated through Aduro's Next Generation Process ("NGP") Pilot Plant. Subject to successful completion of each development stage, the parties' continued evaluation of the project, and the execution of definitive agreements, the collaboration is expected to progress through Front-End Engineering Design ("FEED"), detailed engineering, procurement, construction, commissioning, and start-up.
Aduro has intentionally aligned engineering activities with its ongoing pilot operating campaigns. This integrated approach enables lessons learned through pilot operations to be incorporated directly into the industrial design, reducing execution risk while strengthening the reference design for future commercial deployment. With Saipem engaged during the engineering readiness stage, Aduro expects the company's vast engineering and project execution experience to further help refine the planned facility design, validate key engineering assumptions, and support preparation for a potential FEED phase.
The planned FOAK Plant represents the next step in Aduro's commercialization strategy by providing the initial industrial-scale implementation of Hydrochemolyticâ„¢ Technology. The broader FOAK Facility is intended to establish the engineering, operating, and economic foundation for future commercial plants and provide a repeatable execution model for subsequent deployments.
"Selecting Saipem represents an important milestone in the industrialization of Hydrochemolyticâ„¢ Technology," said Ofer Vicus, Chief Executive Officer of Aduro. "As we transition from pilot-scale toward industrial implementation, it was important to select a partner with deep experience delivering complex process facilities and bringing innovative technologies into commercial operation. Equally important is our shared commitment to a disciplined, stage-gated approach that allows engineering decisions to evolve alongside the operational knowledge we continue to generate through our NGP Pilot Plant. We believe this integrated development model strengthens the technical foundation of the FOAK Plant while reducing execution risk and improving long-term scalability."
Vicus added, "By engaging with Saipem at an early stage, we can work together to optimize process and engineering decisions, procurement strategies, constructability, and overall project execution as the project advances through its planned development phases."
The FOAK Facility is planned for Chemelot Industrial Park in the Netherlands, where Aduro has been advancing multiple parallel workstreams including permitting, site integration, feedstock logistics, customer engagement, engineering development, and commercialization planning. The engagement with Saipem represents another foundational element of the broader FOAK Program, complementing these activities as the Company continues advancing toward industrial deployment.
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 Hydrochemolyticâ„¢ 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 more information, visit https://www.adurocleantech.com
For further information, please contact:
Abe Dyck
Head of Corporate Development / Investor Relations
ir@adurocleantech.com
+1 226 784 8889
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of applicable U.S. securities laws, including the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information in this news release includes, but is not limited to, statements regarding the Conditional Letter of Award with Saipem; the anticipated scope, timing, objectives, and potential benefits of the Early Works/Services; the expectation that the Early Works activities will be funded from the Company's existing cash resources and will not require additional financing; the potential execution of a full FEED services contract; the potential progression of the collaboration through FEED, detailed engineering, procurement, construction, commissioning, and start-up, subject to successful completion of each development stage, continued evaluation of the project, and execution of definitive agreements; the planned development and advancement of the Company's FOAK Plant and broader FOAK Program at Chemelot; the expected role of engineering, procurement support, capital cost review, and pilot data in supporting the project; the Company's NGP Pilot Plant operating campaigns; the intended role of the FOAK Facility in establishing an engineering, operating, and economic foundation for future commercial plants and informing subsequent deployments; the potential industrial implementation of Hydrochemolyticâ„¢ Technology; and the Company's broader scale-up and commercialization pathway.
Forward-looking information is based on management's current expectations, estimates, projections, and assumptions, and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks include, but are not limited to, the possibility that the parties may not enter into a full FEED services contract; changes to the scope, timing, cost, or outcome of the Early Works/Services; engineering, procurement, permitting, financing, construction, commissioning, and scale-up risks; availability and performance of critical equipment; the Company's ability to generate sufficient pilot data to support design decisions; the ability to secure and maintain required commercial, feedstock, offtake, and project agreements; changes in market, regulatory, or economic conditions; availability of capital; and other risks described in the Company's public disclosure filings available on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.
Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. Except as required by applicable law, Aduro undertakes no obligation to update or revise any forward-looking information.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/900dfb40-f478-4c57-bb06-ea7b7a6e4a75
