Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Zimtu Capital Corp.
  6. News
  7. Summary
    ZC   CA9895892052

ZIMTU CAPITAL CORP.

(ZC)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensus 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Aduro and Switch Energy Partner to Build Pilot Plant in Ontario, Canada, Demonstrating Hydrochemolytic™ Technology for Chemical Recycling of Agricultural Plastic Waste

11/10/2021 | 02:39pm EST

Sarnia, ON, November 9, 2021 - Aduro Clean Technologies ('Aduro' or the 'Company') (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50), a Canadian developer of patented water-based technologies to chemically recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels, has entered into discussions with Switch Energy ('Switch Energy"), a recycler and operator participating in Canada's agricultural & industrial film recycling program by owning and operating the largest collection program for agricultural waste in the province of Ontario. The goal of these discussions is to develop a framework whereby the two companies can work together to design, build, install, and operate a pilot plant to process waste polyethylene and other types of waste plastics, such as polypropylene.

Canadian farms generate an estimated 60,000 tonnes of plastic every year. Farmers and their local communities would like to recycle agricultural plastics like bale/silage wrap, twine, and greenhouse film to keep their farms clean and prevent these materials from ending in landfills. But until now, there has not been a way to locally process this waste plastic in a cost-effective and environmentally friendly manner.

This is because most plastic recycling technologies and projects require large-scale installations to achieve economic feasibility, putting them out of reach for many recyclers. To address this and other issues, Aduro aims to deploy modular, smaller-scale facilities that can be co-located at or near waste streams. In the case of Switch Energy, the pilot plant will accommodate the need for farmers to economically divert their agricultural waste plastics from landfills. Successful implementation could result in similar projects across North America.

Switch Energy has over a decade of experience with the collection of agricultural waste, design and development of plastic washing, mechanical shredding, feed systems setup, and product offtake sales and marketing. This experience makes Switch Energy the ideal partner for this pilot plant. Aduro will provide expertise in the HydrochemolyticTM technology (HCT) process design, including identifying optimal finished product specifications and engagement with the chemical and petrochemicals industry for long-term offtake engagement. The pilot plant will be scaled for tonnes per day capacity.

"Our discussions with Aduro over the past few months, along with an in-depth review of their technology, has convinced us that their HCT-based solution is a superior solution compared to alternatives. Their technology operates at low temperatures, has no issue dealing with high concentration levels of moisture, and is versatile enough to process other types of plastics and contaminates. Therefore, we are very excited about working with Aduro to advance this important technology to a commercial scale. As a farmer, I see the need for solutions, and not just regulations, so we don't have to send agricultural waste to landfills," says Don Nott, founder and CEO of Switch Energy.

The project enables Aduro to demonstrate the unique capability of the HCT technology, and it represents a natural progression for Aduro following its imminent attainment of the First Milestone. "Achieving the First Milestone remains a main goal for us, which means demonstrating that our technology works well in the continuous-flow mode needed for commercial systems. Our data supports new discussion regarding pilots for different applications, such as waste plastics," explains Ofer Vicus, CEO of Aduro.

Both Nott and Vicus agree that the possibility of a similar project across the provinces of Canada, and all of North America, is very exciting, as it can eliminate the cost of landfill disposal by increasing the value of waste plastic. Aduro anticipates the proposed project will further demonstrate the economic feasibility of small-scale plastics processing using its HCT.

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 activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into 21st-century resources. With funding and support from Bioindustrial Innovation Canada, the company has developed a pre-pilot reactor system to upgrade heavy petroleum into lighter oil.

About Switch Energy

Switch Energy is an Ontario-based company with 10 years of experience in recycling polyethylene and polypropylene waste plastic. Operating across Southwestern Ontario, the company collects materials directly from agricultural, horticultural, and marine business operations. Switch Energy has extensive experience shredding, washing, and recycling waste plastic into resin used in various plastics applications.

For further information, please contact:

Ofer Vicus, CEO
ovicus@adurocleantech.com

Don Nott, CEO
dnott@switchenergycorp.com

Craig MacPhail, Investor Relations
ir@adurocleantech.com
+1 604-362-7011

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. 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 adverse market conditions and 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 as a result 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.

Disclaimer

Zimtu Capital Corp. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 19:38:04 UTC.


ę Publicnow 2021
All news about ZIMTU CAPITAL CORP.
01/11ZIMTU CAPITAL : Announces Private Placement
PU
01/10Zimtu Capital Raising C$0.75 Million in a Private Placement of Share Units
MT
01/10Zimtu Capital Corp. announced that it expects to receive CAD 0.75 million in funding
CI
01/06ZIMTU CAPITAL : Core Assets Announces $1.5 Million Private Placement Led By Crescat Capita..
PU
01/06ZIMTU CAPITAL : Pontus Protein Closes Debt Settlement
PU
2021ZIMTU CAPITAL : Arctic Star Announces Closing of Non-Brokered Private Placement of Units
PU
2021ZIMTU CAPITAL : Commerce Resources Intersects 2.19% REO over 302.0 m, including 2.94% REO ..
PU
2021ZIMTU CAPITAL : Zinc8 Energy Solutions Announces AGSM Results
PU
2021ZIMTU CAPITAL : Core Assets Petrographic Analysis Indicates Large Multi-Stage Zn-Pb-Ag-Cu-..
PU
2021ZIMTU CAPITAL : Commerce Resources Corp. Announces Closing of Flow-through Non-brokered Pr..
PU
More news
Financials
Sales 2020 1,39 M 1,11 M 1,11 M
Net income 2020 3,70 M 2,95 M 2,95 M
Net cash 2020 8,83 M 7,04 M 7,04 M
P/E ratio 2020 0,67x
Yield 2020 -
Capitalization 3,59 M 2,87 M 2,86 M
EV / Sales 2019 -1,53x
EV / Sales 2020 -4,56x
Nbr of Employees -
Free-Float 80,0%
Chart ZIMTU CAPITAL CORP.
Duration : Period :
Zimtu Capital Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 0,22 
Average target price
Spread / Average Target -
Managers and Directors
David Ian Hodge President, Chief Executive Officer & Director
Jody Bellefleur Chief Financial Officer
Kevin James Bottomley Independent Director
John Christopher Grove Secretary & Independent Director
Sean Charland Director
Sector and Competitors
1st jan.Capi. (M$)
ZIMTU CAPITAL CORP.2.22%3
BLACKROCK, INC.-7.31%128 719
BROOKFIELD ASSET MANAGEMENT INC.-6.19%89 709
BLACKSTONE INC.-10.26%82 551
UBS GROUP AG8.50%67 242
BANK OF NEW YORK MELLON CORPORATION (THE)9.50%52 522