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Aduro Clean Technologies (TSE:ACT)
:ACT

Aduro Clean Technologies (ACT) AI Stock Analysis

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TSE:ACT

Aduro Clean Technologies

(ACT)

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Neutral 53 (OpenAI - 5.2)
Rating:53Neutral
Price Target:
C$17.50
▼(-3.10% Downside)
The score is held back primarily by weak financial performance—very small revenue relative to a large loss base and continued cash burn—despite a low-leverage balance sheet. Technicals are comparatively stronger, with the stock trading above key moving averages and positive momentum indicators. Valuation remains constrained by negative earnings and no stated dividend.
Positive Factors
Low Leverage / Balance Sheet Strength
Very low leverage gives the company structural financial flexibility over months to fund pilot and demonstration projects, pursue licensing deals, and absorb operating losses without immediate insolvency risk. This supports long-term execution and partner confidence.
Proprietary Technology & Business Model
Owning a proprietary conversion technology and a licensing/joint-venture revenue model provides a scalable, capital-efficient pathway to monetize intellectual property across waste, energy and chemical markets, supporting durable margins and partner-driven commercial expansion.
Progress on Scale-up Roadmap
Advancing pilot commissioning and demonstration plant site-selection are structural de-risking steps. Successful scale-up execution materially increases the odds of commercial licensing, JV deals, and reproducible product output, improving long-run revenue prospects.
Negative Factors
Minimal Revenue vs Large Losses
Extremely low current revenue relative to material net losses indicates the business has not yet achieved commercial scale. Persistently operating at a large loss versus negligible sales challenges path to self-sustaining operations and delays profitability for many quarters.
Material Cash Burn
Significant negative operating and free cash flow means the company must rely on external financing or equity to continue development and scale-up. Repeated capital raises can dilute shareholders and constrain long-term investment flexibility if technical milestones take longer.
Negative Returns on Equity
Strongly negative ROE signals poor capital efficiency and that cumulative losses are eroding shareholder value. Over time, continued negative returns can weaken the equity base and reduce capacity to fund growth without dilutive financing or strategic restructuring.

Aduro Clean Technologies (ACT) vs. iShares MSCI Canada ETF (EWC)

Aduro Clean Technologies Business Overview & Revenue Model

Company DescriptionAduro Clean Technologies Inc. develops water-based chemical recycling technologies that transform waste plastics, heavy crude and bitumen, and renewable oils into renewable fuels and specialty chemicals. The company is based in Sarnia, Canada.
How the Company Makes MoneyAduro Clean Technologies generates revenue primarily through the licensing of its Hydrochemolytic™ technology to industrial partners and clients in various sectors, including waste management, energy, and chemicals. The company also earns money through joint ventures and collaborations with strategic partners, which may involve shared investment in technology development and commercialization. Additional revenue streams include consulting services related to technology implementation and optimization, as well as potential product sales derived from the processing of waste materials into renewable fuels and chemicals. The establishment of partnerships with industry leaders further enhances ACT's market presence and can lead to additional revenue opportunities through collaborative projects.

Aduro Clean Technologies Financial Statement Overview

Summary
Balance sheet is a relative strength with very low leverage, but financial performance is constrained by extremely small TTM revenue (~$0.3M), large net losses (~$19.4M), and materially negative operating and free cash flow (OCF ~-$10.3M; FCF ~-$15.1M), indicating ongoing cash burn.
Income Statement
18
Very Negative
TTM (Trailing-Twelve-Months) revenue is still very small (~$0.3M) despite a high reported growth rate, and profitability remains deeply negative (net loss of ~$19.4M) with very weak gross profit and extremely negative operating and net margins. The main positive is that revenue is moving up from prior years, but the scale is far too low relative to the cost base, pointing to ongoing heavy operating losses.
Balance Sheet
62
Positive
The balance sheet is a relative strength: leverage is very low (debt is minimal versus equity), and equity and total assets are sizable compared with the company’s debt load. The key weakness is that returns on shareholders’ equity are strongly negative due to persistent losses, which can pressure the equity base over time if losses continue.
Cash Flow
22
Negative
Cash generation remains weak, with TTM (Trailing-Twelve-Months) operating cash flow (~-$10.3M) and free cash flow (~-$15.1M) both materially negative, indicating ongoing cash burn to fund operations and investment. While free cash flow trends show some improvement versus prior periods in the dataset, the company still relies on external funding or its balance sheet to sustain operations until profitability improves.
BreakdownTTMDec 2024Dec 2023Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue305.27K231.21K109.63K337.52K0.0037.93K
Gross Profit13.60K231.21K-41.68K-93.64K-60.63K37.88K
EBITDA-18.76M-11.60M-5.69M-6.99M-4.97M-3.09M
Net Income-19.36M-12.15M-5.86M-7.44M-5.08M-3.21M
Balance Sheet
Total Assets21.94M12.83M7.58M6.96M3.22M3.03M
Cash, Cash Equivalents and Short-Term Investments13.04M6.96M4.05M2.81M2.11M2.86M
Total Debt141.87K170.95K157.98K138.59K241.64K668.92K
Total Liabilities4.69M1.04M613.02K600.53K826.75K1.21M
Stockholders Equity17.24M11.79M6.97M6.36M2.39M1.82M
Cash Flow
Free Cash Flow-15.12M-10.42M-6.50M-6.36M-3.71M-1.05M
Operating Cash Flow-10.33M-8.98M-4.50M-5.21M-3.30M-1.03M
Investing Cash Flow-4.61M-1.44M-2.01M-1.14M-411.00K-19.05K
Financing Cash Flow18.75M14.57M8.44M5.11M2.96M3.86M

Aduro Clean Technologies Technical Analysis

Technical Analysis Sentiment
Negative
Last Price18.06
Price Trends
50DMA
17.67
Negative
100DMA
18.37
Negative
200DMA
15.52
Positive
Market Momentum
MACD
0.36
Positive
RSI
45.16
Neutral
STOCH
24.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ACT, the sentiment is Negative. The current price of 18.06 is below the 20-day moving average (MA) of 18.73, above the 50-day MA of 17.67, and above the 200-day MA of 15.52, indicating a neutral trend. The MACD of 0.36 indicates Positive momentum. The RSI at 45.16 is Neutral, neither overbought nor oversold. The STOCH value of 24.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ACT.

Aduro Clean Technologies Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
C$39.00M21.1819.05%-13.85%-60.15%
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
63
Neutral
C$33.97M14.6710.00%-30.45%
54
Neutral
C$32.44M65.00-1.51%-3.45%-104.92%
53
Neutral
C$601.02M-27.18-114.59%-33.91%-40.26%
45
Neutral
C$4.93M-2.94-68.14%-209.09%
42
Neutral
C$10.67M-2.7214.18%-29.19%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:ACT
Aduro Clean Technologies
17.37
8.78
102.21%
TSE:BRM
Biorem Inc
2.79
0.33
13.41%
TSE:WATR
Current Water Technologies Inc
0.02
0.00
0.00%
TSE:SHRC
Sharc International Systems Inc
0.07
-0.07
-50.00%
TSE:TMG
Thermal Energy International
0.20
0.05
30.00%
TSE:GRN
Greenlane Renewables Inc
0.22
0.13
131.58%

Aduro Clean Technologies Corporate Events

Business Operations and Strategy
Aduro Clean Technologies Picks Chemelot Site for First Industrial-Scale Plastics Recycling Plant
Positive
Jan 29, 2026

Aduro Clean Technologies has chosen the Chemelot Industrial Park in Sittard-Geleen, Netherlands, as the site for its first industrial-scale plant, a First-of-a-Kind facility that will deploy its Hydrochemolytic Technology for the chemical recycling of waste plastics. The plant, which follows pilot-scale validation, is designed as a key step toward commercial operations, starting with a capacity of about 10,000 tonnes per year and with room for phased expansion. The company selected Chemelot after an extensive site-selection process, citing the park’s integrated chemical cluster, robust utilities, access to waste feedstock, proximity to steam cracking and downstream polymer production, and alignment with Europe’s circular-economy regulations. The location within the Netherlands’ circular chemistry ecosystem and the Brightlands Chemelot Campus is expected to support Aduro’s long-term industrial presence, strengthen its position in the circular plastics value chain, and facilitate partnerships with regional industrial offtakers and innovation partners.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$20.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Aduro Clean Technologies Widens Loss as It Accelerates Scale-Up, Bolsters Cash With US$20 Million Offering
Positive
Jan 15, 2026

Aduro Clean Technologies reported a sharp increase in second-quarter fiscal 2026 revenue to $122,706, up 222% year-on-year, driven by non-recurring customer engagement and technology evaluation programs, while losses widened as the company accelerated investment in research and development, technology scale-up, staffing, marketing and public company costs tied to its Nasdaq listing. The company advanced commissioning of its Next Generation Process (NGP) Pilot Plant, progressed global site selection for a future Demonstration Plant, and significantly bolstered its balance sheet with a stronger cash position of $13.04 million at quarter-end and approximately US$20 million raised in a subsequent U.S. public offering, providing added financial flexibility to fund its demonstration program and broader growth initiatives.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$17.50 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Aduro Clean Technologies Widens Loss as It Accelerates Scale-Up, Bolsters Cash With US$20 Million Raise
Positive
Jan 15, 2026

Aduro Clean Technologies reported a sharp increase in second-quarter fiscal 2026 revenue to $122,706, up 222% year-on-year, driven by non-recurring customer engagement and technology evaluation programs, while losses from operations widened to $6.46 million as the company ramped up research and development, technology scale-up activities, staffing, marketing, and incurred additional costs tied to its Nasdaq listing. The company advanced commissioning of its Next Generation Process Pilot Plant and progressed planning for a future Demonstration Plant, including global site selection, while significantly strengthening its balance sheet with a strong cash position of $13.04 million at quarter-end and an additional US$20 million raised in a subsequent U.S. public offering, enhancing its capacity to fund scale-up, R&D, and broader corporate growth initiatives.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$17.50 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Aduro Clean Technologies Prices US$20 Million U.S. Public Offering to Fund Demonstration Plant
Positive
Dec 19, 2025

Aduro Clean Technologies has priced a US$20 million underwritten U.S. public offering of 1,739,130 common shares bundled with half-warrants, each whole warrant exercisable at US$16.00 per share for three years, with securities sold exclusively to U.S. investors under an effective shelf registration. The company plans to use the proceeds primarily to fund construction of its demonstration-scale plant, with any remaining funds allocated to research and development, general corporate purposes and working capital, a move that underscores its capital-intensive scale-up phase and could accelerate commercialization of its chemical recycling and upgrading technologies while modestly diluting existing shareholders.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$20.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Aduro Clean Technologies Graduates from Shell GameChanger Program
Positive
Dec 16, 2025

Aduro Clean Technologies has successfully graduated from the Shell GameChanger program, marking a significant milestone in the development of its Hydrochemolytic™ Technology. This achievement validates Aduro’s approach to converting waste plastics into high-quality hydrocarbons, enhancing its engineering and commercial readiness. The program’s conclusion supports Aduro’s plans for scaling up its operations, including the commissioning of a Pilot Plant and the design of a Demonstration-scale facility, positioning the company as a key player in chemical decarbonization and the energy transition.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$20.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and Strategy
Aduro Clean Technologies Partners with ECOCE to Enhance Plastic Recycling in Mexico
Positive
Dec 3, 2025

Aduro Clean Technologies has partnered with ECOCE, a Mexican non-profit environmental association, to explore the use of Aduro’s Hydrochemolytic™ Technology (HCT) for recycling flexible plastic packaging in Mexico. This collaboration aims to tackle the significant challenge of recycling mixed and multilayer plastics, a growing waste category in Mexico, by converting them into valuable liquid hydrocarbons. The initiative is expected to create new business models and market opportunities for ECOCE’s members and other stakeholders, potentially enhancing recycling efficiency and reducing environmental impact.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$17.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Aduro Achieves Milestone in Plastic Recycling with Successful Steam-Cracking Trials
Positive
Nov 20, 2025

Aduro Clean Technologies announced the successful pilot-scale steam-cracking of its Hydrochemolytic™ oil derived from waste plastics. This achievement validates the oil’s potential as a drop-in-compatible circular feedstock for steam crackers, offering significant economic and environmental benefits by reducing the need for costly pre-treatment and enabling integration with minimal modifications.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$14.50 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and Strategy
Aduro Clean Technologies to Feature on ‘Earth with John Holden’ and Present at Key Recycling Conferences
Positive
Nov 13, 2025

Aduro Clean Technologies will be featured on the docu-series ‘Earth with John Holden’ and is set to participate in two major international conferences focused on advanced recycling and sustainable packaging. The company will showcase its Hydrochemolytic™ Technology (HCT), which uses water-assisted chemistry to convert hard-to-recycle plastics into valuable resources, highlighting its potential to address environmental challenges and expand the recyclability of complex plastics. Aduro’s involvement in these events underscores its commitment to advancing chemical recycling and engaging with industry leaders to support sustainable material systems.

The most recent analyst rating on (TSE:ACT) stock is a Sell with a C$16.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Business Operations and Strategy
Aduro Clean Technologies Eyes Netherlands for Demonstration Plant Expansion
Positive
Nov 6, 2025

Aduro Clean Technologies has signed a non-binding Letter of Intent to potentially acquire a brownfield industrial site in the Netherlands for €2 million, intended for their Demonstration Plant. This strategic move is part of Aduro’s plan to scale up its Hydrochemolytic™ technology, with the site offering existing infrastructure and utilities that reduce project risk and capital costs. The Netherlands’ robust waste management systems and proximity to liquid steam crackers align with Aduro’s objectives, supporting the EU’s circular economy goals and offering potential for future expansion.

The most recent analyst rating on (TSE:ACT) stock is a Hold with a C$19.00 price target. To see the full list of analyst forecasts on Aduro Clean Technologies stock, see the TSE:ACT Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 24, 2026