Aduro Clean Technologies Inc.

Aduro is an early-stage, Ontario-based clean technology company that has developed a highly flexible, water-based Hydrochemolytic conversion platform that it applies in three application arenas: Hydrochemolytic Plastics Upcycling, Hydrochemolytic Bitumen Upgrading, and Hydrochemolytic Renewables Upgrading. As at the date of this AIF, the Company owns, through acquisition and development, eleven patents, seven granted and four pending. In all three arenas, lower-value feedstocks are converted into useful, higher-value streams that can be used as inputs for producing other chemicals or fuels. Although Aduro technology can be implemented in stand-alone operations, management believes its greatest economic relevance and impact is achieved through integration into the operational infrastructure at existing plants. Accordingly, Aduro aims to create strategic partnerships to demonstrate and implement the technology through licensing arrangements. Aduro has developed its technology platform to address different applications and market sectors and is now actively advancing toward its scaled-up commercial implementation for plastics conversion and bitumen upgrading. Aduro’s first significant scale-up step is the development of a semi-commercial process which will be designed, built and tested on a pilot scale and subsequently scaled up further to demonstrate on a commercial scale. Aduro has incurred recurring losses since inception and its technology platform has not yet been tested in a commercial setting.