SARNIA, Ontario, Nov. 08, 2023as a director of the Company.
Marie Grönborg holds an M.Sc. in Chemical Engineering and has almost 30 years of global experience in the chemical and clean-tech industries. Ms. Grönborg was the CEO of the Swedish-based company TreeToTextile, a tex-tech company headquartered in Stockholm, jointly owned by H&M, Stora Enso, IKEA and LSCS Invest, which has developed a new sustainable and cost-efficient technology to produce manmade cellulosic fiber for the textile industry. Before joining TreeToTextile, Ms. Grönborg was the CEO of Purac, a provider of turn-key solutions for water treatment and biogas production. Ms. Grönborg was also an Executive Vice President and a part of the Group Management Team of Perstorp, a specialty chemicals company with a focus on the global resins and coatings, engineered fluids and animal nutrition markets.
In addition to her operational roles, Ms. Grönborg currently holds board positions with the Swedish steel company, SSAB, the producer of the world's first fossil-free steel to customers, with Permascand, a provider of electrochemical solutions for global green transition and with Eolus, an international company with a main business to design and construct facilities for renewable energy and energy storage, focusing mainly on wind power, solar power and battery storage.
"I am very excited about the opportunity to join Aduro as a director of the board and genuinely look forward to contributing to realizing the potential of Aduro and its groundbreaking Hydrochemolytic technology," commented Ms. Grönborg. "It's a privilege to be part of a journey focusing on bringing new solutions to improve sustainability and enable circular economy in the chemical industry, which is where I have my roots."
"We are excited to welcome Marie Grönborg to Aduro's board. Her extensive experience in the chemical and clean-tech industries makes her an invaluable addition," said Ofer Vicus, CEO of Aduro. "We look forward to working with her as our company continues to evolve and to advance our Hydrochemolytic technology."
Ms. Grönborg replaces Chris Parr, who has resigned as a director of the Company. The Company thanks Mr. Parr for his services as a director, including his leadership in the acquisition of Aduro Energy Inc. completed in 2021. Despite his resignation from the board, Mr. Parr has agreed to continue as a consultant to the Company, providing corporate advisory, corporate finance, and related advisory services, as required.
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 relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 604 362 7011
Arrowhead
Thomas Renaud, Managing Director
enquire@arrowheadbid.com
+1 212 619 6889
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. Such forward looking statements in this release include the appointment of Ms. Marie Grönborg to the board of directors and the engagement of Chris Parr as a consultant, and the expected impact on the business and operations of the Company, including anticipated strategic moves towards commercial engagement and strategic partnerships; momentum for the path to commercialization of the Company's technology, including building long-term relationships, development of customized solutions for waste plastic feedstocks of interest, and solidifying a potential commercial pipeline of projects; the expected contributions by Ms. Grönborg in leadership and expertise so as to add significant value to the board of directors and align seamlessly with the Company's strategic objectives; and the expected contributions by Mr. Parr for corporate advisory, corporate finance, strategic planning and related advisory services. 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 that the appointment of Ms. Grönborg and engagement of Mr. Parr may not have the impact on the Company's business, strategy, commercialisation and operations as expected or at all; that adverse market conditions and other factors beyond the control of the parties may negatively impact the business plans and operations of Aduro. 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 Canadian Securities Exchange has not reviewed or approved the contents of this news release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e7d515c7-e07c-410a-b6ef-194774ec3fa8
