Cielo Waste Solutions (CMC) investor relations material

Strategic overview and technology

• Aduro Clean Technologies leverages a proprietary Hydrochemolytic™ process to upgrade heavy oil, recycle waste plastics, and enhance renewable fuels without the need for hydrogen, resulting in cost-effective and energy-efficient operations.

• The technology is modular, scalable, and tolerant to contaminated feedstocks, enabling both small-scale and industrial-scale applications across diverse markets.

• Aduro holds around 10 patents, creating a strong intellectual property moat in a field dominated by legacy technologies, and is confident in the uniqueness and defensibility of its approach.

Commercialization and market opportunity

• The addressable market for Aduro's applications exceeds $200 billion, with each segment—bitumen upgrading, chemical recycling, and renewables—representing significant standalone opportunities.

• The company is transitioning from pilot to industrial scale, aiming to commission its first revenue-generating unit by mid-to-late 2027, with plans for rapid modular expansion.

• Aduro's Hydrochemolytic oil has demonstrated compatibility with naphtha crackers, achieving higher yields for circular plastics than peers, which is advantageous under new European regulations.

Partnerships, licensing, and global expansion

• Aduro is pursuing a dual business model: build-own-operate facilities and commercial licensing, recently signing an MOU with a leading EPC firm to support global licensing efforts.

• The first industrial-scale unit will be located in the Netherlands, leveraging Europe's advanced recycling regulations and infrastructure, with future expansion capacity built in.

• Collaboration with the EPC enables performance guarantees required for large-scale adoption by refineries and petrochemical companies.