Aduro Clean Tech signs non-binding LOI for demonstration plant site in Europe

Aduro Clean Tech (ADUR)nologies announces that its wholly owned subsidiary, Aduro Clean Technologies Europe, has executed a non-binding Letter of Intent for the proposed purchase of land, buildings, and equipment associated with a brownfield industrial site in the Netherlands for a purchase price of EUR 2 million. Aduro will also pay the vendor a non-refundable fee of EUR 33,782 for the exclusive use of the property during the due diligence period. The property is being evaluated as the potential host for Aduro’s Demonstration Plant, marking the next stage in the Company’s structured scale-up from its Next Generation Process Pilot Plant. The LOI is non-binding, and the proposed transaction remains subject to due diligence, negotiation of definitive agreements, and customary conditions and approvals. There can be no assurance that the transaction will be completed as contemplated or at all.