Aduro Clean Technologies (ACT.TO) stocks fell on Thursday after the company said it moved to the next stage of collaboration with Mexican non-profit ECOCE after mapping its multilayer plastic packaging waste streams.
Aduro shares were down 3.2% in early afternoon trading on the Toronto Stock Exchange.
Certain post-consumer flexible plastic packaging streams in Mexico will transition to a hydrochemolytic technology (HCT) test campaign to gauge their conversion into liquid hydrocarbon products for downstream circular plastics applications. Flexible plastic packaging is a difficult category to manage and includes polyethylene and polypropylene, and may contain inks, adhesives, and varying levels of contamination, the statement said.
Aduro will begin with lab-scale evaluation to assess how selected Mexican flexible and multilayer plastic waste streams respond to HCT.
ECOCE promotes the management, collection, and recycling of post-consumer packaging waste and is created and supported by the food and beverage industry in Mexico.
Aduro shares were last seen down C$0.63 at C$18.33.
Price: $18.36, Change: $-0.60, Percent Change: -3.16%