Chemical recycling startup Aduro Clean Technologies announced its latest quarterly financial results today, reporting losses more than twice the year-ago levels, amid higher incurred costs to advance new plants.
During the quarter ended Feb. 28, Aduro started up its pilot plant in London, Ontario, and is now conducting operating campaigns to test and refine processes. The company also selected the Chemelot site in the Netherlands for its first industrial-scale plant and awarded the site permitting contract to Ebert HERA.
In addition, Aduro signed a letter of intent for offtake with “a leading independent international commodities trading company active in the sourcing, logistics, and marketing of naphtha and certified circular hydrocarbon streams.”
The company also joined the Chemical Recycling Europe association last month, to provide Aduro with a platform to “engage directly in the frameworks that will define how chemical recycling is implemented at industrial scale in Europe,” according to a statement.
In sum, “These elements are increasingly interconnected, with pilot operations, engineering development, and market engagement mutually informing one another as we move toward industrial deployment,” said Ofer Vicus, Aduro CEO.
Amid rising expenses for hiring and scaling efforts, as well as R&D activities, loss from operations was $1.629 million for Q3 2026, compared to a loss of $2.852 million a year ago. Year-to-date loss was $14.416 million compared to a YTD loss of $8.429 million in the prior-year period.
Aduro’s adjusted EBITDA for the quarter was negative CAD $2.772 million (negative US $2.018 million) for Q3 2026, compared to negative CAD $1.840 million (negative US $1.34 million) a year ago.
Last December, Aduro began collaborating with producer responsibility organization (PRO) Ecoce to establish a program to test the technology on post-consumer flexible and mixed plastic packaging collected through Ecoce’s systems in Mexico.
