LONDON, Ontario, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. ("Aduro” or the "Company”) (NASDAQ: ADUR) (CSE: 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, is pleased to announce its entry into a memorandum of understanding (MOU) with GF Building Flow Solutions Americas ("GF”), a leader in sustainable building solutions and global provider of Uponor-branded products.
This MOU marks an important step as the two companies explore a structured pathway to a formal collaboration agreement aimed at enhancing GF's ongoing efforts to convert Uponor crosslinked polyethylene (PEX) production waste into valuable raw materials.
GF Building Flow Solutions Americas is one of the leading international producers of pipes used to move water for buildings and infrastructure, including pipes made of cross-linked polyethylene (PEX). PEX pipes are commonly used in energy efficient heating and safe plumbing due to their robustness, temperature resistance and longevity. The engagement between Aduro and GF seeks to demonstrate that chemical recycling through Aduro's proprietary Hydrochemolytic™ Technology (HCT) can convert Uponor brand PEX waste into high-quality feedstock, enabling the consecutive manufacturing of products with the same high-quality and properties as in their previous life.
This engagement is the result of GF Building Flow Solutions Americas' continued strategic focus on dealing with its cross-linked polyethylene production waste in a sustainable and cost-effective way. GF previously participated in the Aduro Customer Engagement Program (CEP) to conduct a phase 1 technical evaluation focused on assessing the potential of HCT for recycling cross-linked polymers. Initial results from this technical evaluation have demonstrated that Aduro's HCT has the unique ability to break down cross-linked polyethylene to raw material for the manufacture of ethylene.
"We are very excited to build upon our previous success in breaking down Uponor cross-linked polymer waste into raw material,” said Ofer Vicus, CEO of Aduro. "This engagement will expand our relationship with GF Building Flow Solutions Americas, setting the stage to develop Aduro's penetration into the multi-billion-dollar PEX pipe market, with the goal of investigating a potential commercial scale solution for GFs cross-linked polymer waste stream.”
Cross-linked polymers, like those used in Uponor PEX pipes, are pivotal to numerous industries, thanks to their exceptional durability, chemical resistance, and mechanical strength. They are integral to many products ranging from automotive tires to household adhesives, protective coatings, and medical devices. Their critical applications span sectors such as aerospace, automotive, construction, and electronics, where their unique properties are indispensable. The global PEX pipe market is expected to reach approximately $2.79 billion by 2032, with a CAGR of 6.1% (Business Research Insights, October 2024).
The attributes that make cross-linked polymers invaluable pose a significant recycling challenge. Unlike thermoplastics, these materials do not melt under heat; instead, they are exceedingly difficult to decompose. When subjected to the very high temperatures necessary for their breakdown, they primarily degrade into char and fuel gas, substances unsuitable for repurposing into new materials. This limitation not only underscores the need for innovative recycling technologies but also highlights the urgency of developing sustainable lifecycle management strategies for cross-linked polymers.
"This engagement with Aduro represents a promising opportunity to demonstrate the importance of partnership in innovating technical capacities and viability of advanced recycling pathways for all industries, including for our PEX pipe,” said Chrissie Walsh, Sustainability Manager of GF Building Flow Solutions Americas. "We look forward to investigating the ability of Aduro's HCT to provide a sustainable and cost-effective solution for our cross-linked polymer waste stream. We hope to continue building our relationship into a commercial scale solution.”
About GF Building Flow Solutions Americas
GF Building Flow Solutions Americas, a division of GF, is a leading global provider of sustainable and innovative solutions, making water flow in buildings. The division, stemming from the 2023 acquisition of Uponor by GF, provides safe solutions for hot and cold-water supply and control, noise-reducing wastewater systems, as well as energy-efficient heating and cooling. Its focus is to enable its customers in the residential and commercial space to be more productive and sustainable, while ensuring comfort, health and efficiency. Information about Uponor-branded products is available at www.uponor.com. www.georgfischer.com
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:
Abe Dyck, Investor Relations
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Vice President
GF Building Flow Solutions Americas
Courtney Hieb
Corporate Communications Manager
+1 612 816 0592
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. In this news release, the forward-looking statements include, but are not limited to, the expectation that the MOU with GF will serve as a pathway to a formal collaboration agreement between Aduro and GF; that Aduro's proprietary HCT will provide effective chemical recycling of Uponor brand PEX waste into high-quality feedstock, enabling the consecutive manufacturing of products with the same high-quality and properties as in their previous life; that the MOU will build upon Aduro's previous testing success in breaking down Uponor cross-linked polymer waste into raw material; that the MOU will expand Aduro's relationship with GF Building Flow Solutions Americas and allow Aduro to penetrate the multi-billion-dollar PEX pipe market; that the MOU will lead to development of a commercial scale solution for Uponor's cross-linked polymer waste stream; that the PEX pipe market will continue to grow as anticipated and reach a value of approximately $2.79 billion by 2032, with a CAGR of 6.1%; that the MOU will demonstrate the importance of partnership in innovating technical capacities and viability of advanced recycling pathways for all industries, including for GF's PEX pipe; that Aduro's HCT will provide a sustainable and cost-effective solution for GF's cross-linked polymer waste stream; and that the relationship with GF will develop into a commercial scale solution. 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, but are not limited to, that a formal collaboration agreement between Aduro and GF may never develop from the MOU; that Aduro's proprietary HCT may not provide effective chemical recycling of Uponor brand PEX waste into high-quality feedstock on a commercial scale or provide for consecutive manufacturing of products with the same high-quality and properties as in their previous life; that further testing of the HCT technology may not yield the same results as previously obtained; that the relationship with GF Building Flow Solutions Americas may, for various reasons, fail to allow Aduro any penetration of the multi-billion-dollar PEX pipe market; that the Company may not develop a commercial scale solution for Uponor's cross-linked polymer waste stream for various reasons, including the development of alternative technologies by competitors that are more effective or more cost efficient or otherwise gain greater market share than Aduro's technology; that the PEX pipe market may not grow or continue to develop as anticipated for various reasons; that the MOU may fail to demonstrate an effective partnership to advance recycling pathways for GF's PEX pipe or otherwise; that Aduro's HCT technology may not provide a sustainable and cost-effective commercial solution for GF's cross-linked polymer waste stream due to competing technologies or for various other reasons; and that the relationship with GF may fail to develop into a commercial scale solution, including as a result of adverse market conditions, competition and/or 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/9181ddd3-3a00-409d-8303-09049a550fc0
