Aduro Clean Technologies Reports Second Quarter Fiscal 2026 Results and Provides Business Update
Executive Summary
- Aduro Clean Technologies reported Q2 FY2026 revenue of C$122,706, a 222% increase year‑over‑year, while loss from operations widened to C$6.46 M due largely to higher non‑cash expenses and increased scale‑up spending.
- The company completed an underwritten U.S. public offering raising approximately US$20 million, strengthening its cash position to C$13.04 M and providing funding for the Demonstration Plant program, R&D, and general corporate purposes.
- Significant operational milestones were achieved: commissioning of the Next Generation Process (NGP) Pilot Plant began; pilot‑scale steam‑cracking of plastic‑derived Hydrochemolytic™ oil demonstrated commercial‑grade ethylene/propylene yields; and a non‑binding LOI was signed for a potential Demonstration Plant site in the Netherlands.
Key Details
- Financial Highlights (Three & Six Months Ended 30 Nov 2025)
- Revenue Q2 FY2026: C$122,706 vs. C$38,143 in Q2 FY2025 (+222%).
- YTD revenue (6‑mo): C$167,206 vs. C$93,143 prior year (+80%).
- Loss from operations Q2 FY2026: C$6,461,987 vs. C$3,114,712 in Q2 FY2025.
- Adjusted EBITDA Q2 FY2026: $(3,299,026) vs. $(1,887,750) prior year.
- Property, plant & equipment (carrying cost): C$8.9 M at 30 Nov 2025 (up $3.8 M YoY).
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Cash on hand: C$13.04 M at 30 Nov 2025 (up 87% from prior quarter).
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Public Offering
- Underwritten U.S. offering of common shares and warrants closed Dec 2025.
- Gross proceeds ≈ US$20 million (pre‑deductions).
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Use of proceeds: primarily to fund the Demonstration Plant program, R&D, working capital, and general corporate purposes.
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NGP Pilot Plant Commissioning
- Construction completed; factory acceptance testing of extruders finished Sep 2025.
- September 2025 – start of commissioning (feed preparation & reactor systems).
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October 2025 – second phase commenced (product recovery system, wet runs, process tuning).
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Demonstration Plant Program
- Non‑binding LOI for land/equipment in a Dutch brownfield site; purchase price €2 M plus non‑refundable exclusivity fee.
- Final site selection expected by end of Jan 2026.
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Engineering trials with KraussMaffei Extrusion GmbH & CHILL B.V. on extrusion‑based feed preparation for mixed waste plastics.
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Pilot‑Scale Steam‑Cracking Results
- Completed steam‑cracking of plastic‑derived Hydrochemolytic™ oil at a European pilot facility.
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Demonstrated stable furnace operation and ethylene/propylene yields comparable to conventional fossil feedstocks.
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Strategic Partnerships & Collaborations
- Multi‑year framework agreement with ECOCE (Mexico) to evaluate Hydrochemolytic™ technology on real post‑consumer PET, HDPE, and multilayer plastics.
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Graduation from Shell GameChanger program – validation of process design assumptions for chemical decarbonization.
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Investor & Industry Engagement
- Participation in investor and technical conferences across North America, Europe, and Asia.
- Featured in “Earth with John Holden” docuseries highlighting Hydrochemolytic™ technology.
Notable Quotes
“During the second fiscal quarter of 2026, Aduro achieved several key operational and planning milestones as we continued to execute on our scale‑up roadmap.” – Ofer Vicus, CEO
“We significantly strengthened the Company’s capital position with the completion of a U.S. public offering raising gross proceeds of approximately US$20 million…” – Mena Beshay, CFO