Aduro Clean Tech, NextGen Polymers sign MOU

Aduro Clean Tech (ADUR)nologies announced the signing of a Memorandum of Understanding, MOU, with NexGen Polymers. This MOU details a framework for a proposed collaboration to develop a demonstration-scale Hydrochemolytic Technology plant including securing feedstock supply, potential site selection, and plant operations to optimise data generation for the future development of configurable commercial solutions. The MOU is comprised of three stage-gated phases. Phases two and three of the MOU are non-binding and outline a framework for the execution of a potential joint venture agreement as well as a proposed collaboration on the commissioning and operations of a demonstration plant. The technology, including any improvements or modifications made during the proposed joint venture, will remain the sole and exclusive property of Aduro. Phase one is binding between Aduro and NexGen and outlines activities where the parties will collaborate on critical feasibility factors that lay the groundwork for the next demonstration plant.