Aduro Clean Technologies' (ACT.CN) hydrochemolytic technology (HCT) now extends to "highly paraffinic" crude oils, the company said on Thursday.
This advancement is a new potential application of HCT, following heavy bitumen upgrading and chemical recycling of waste plastics. It supports the technology's positioning across diverse hydrocarbon feedstocks.
Aduro has filed a continuation-in-part (CIP) patent application with the United States Patent and Trademark Office (USPTO) to protect this development.
Paraffinic crudes account for between 20% to 33% of global crude production, but transport and processing constraints limit the range of refineries able to receive them and reduce realized market value. Yet, these feedstocks are increasingly recognized for favorable refining characteristics, including low sulfur and metals content, high cetane diesel yields, and premium performance in lubricant base oil and fluid catalytic cracker (FCC) applications, a statement said.
"Paraffinic crude oils are widely produced and inherently valuable, but their full potential is often constrained by excessive handling and processing requirements. This extension reflects a practical step in expanding the relevance of our technology and its potential application across the hydrocarbon value chain. Each new application we validate strengthens HCT's position as a platform technology, increases our value proposition, and broadens the set of potential markets and partners we can pursue over time," said chief executive Ofer Vicus.
Aduro shares closed up $1.12, to $16.39 on the Canadian Securities Exchange on Wednesday.