Aduro raises $15M to build demo plant
In Ontario, Aduro Clean Technologies, a company developing chemical solutions to transform lower value feedstocks like waste plastics, heavy bitumen, and renewable oils, into higher value fuels and chemicals, has closed its $15.54 million underwritten U.S. and Canadian public offering. The company sold 1,028,645 common shares at a price of US$15.20 (C$21.20) per common share.
Aduro intends to use the net proceeds for expenditures related to the design, engineering and construction of its first-of-a-kind demonstration-scale industrial plant, ongoing research and development costs, and the remainder for general corporate purposes and working capital.
Canaccord Genuity acted as sole bookrunning manager and underwriter representative.
Category: Chemicals & Materials
