Thank you so much for being here with us. I'm excited to introduce your new presenter, Ofer Vicus of Aduro Clean Technologies.
Can you hear me? Hi there. Thank you very much for having me. My name is Ofer. I'm the CEO and a co-founder of Aduro Clean Technologies. Aduro is a technology development of what we call plastic, a platform technology to do several things. One of them is chemical recycling, and others will talk a little bit more. Upgrading of heavy crude and renewable crude. Aduro is a public company. I imagine most of you are more hungry than less. I'll do my best to run with it and give you as much information about the company. Feel free to ask questions as you see them.
We are basically developed a platform technology which is based on a phenomena discovered sometimes in the early of 2021. That phenomena basically suggests that we can process long and heavy and low-value hydrocarbons in a different way, in such a way that actually we can create something better out of them in a kind of a cost-effective and quite environmentally friendly process. That phenomena was investigated and shot holes by many Fortune 500. There's no question it was sitting there out there for many years for us to identify. Over the years, we just developed a lot of IP around it. About 10 patents, I think, to this day, and several meaningful applications. We have addressable market, as you can see, which is north of CAD 200 billion. It's quite quite large.
Our main application today is chemical recycling. We are probably the leading technology in chemical recycling for waste plastic. We have applications in heavy oil, so we turn heavy oil to a lighter crude. We have other applications that we are not working yet on it, you know, in full intensity, which would be renewable oil into some kind of a renewable fuels. Recently we came up with an application that's just an extension of the waste plastic recycling, a dedicated application that related to processing paraffinic crude. Paraffinic crude is quite heavy. It requires heating from the moment it comes out until the moment it reach refineries. I think we are enabling story there that allows to take the whole paraffinic, the waxy crude out of it.
We kept it as a regular conventional crude, and now we allow extension of the market of that. We're in the energy business, and part of it is in the chemical recycling, and the other part is basically in the actual crude updating. I'll talk a little bit about the technology compared to the peers. This case, it's very much into chemical recycling. Chemical recycling is immediately goes after mechanical recycling. Society is really, as you know or not, a little bit looking for solutions to deal with waste plastic. Plastic is all over the world. We see it, we feel it, we use it quite a lot.
We can't actually do without it, but once it's done its work, you know, it creates significant issues where society is looking for ways to turn it around. The first go-to-market will be mechanical recycling. That is a limited approach. It has its own good end use, very good use, actually. Basically, you take material and as much as you can of the same type, you clean it, you wash it, you fix it, and you move it on to make a new product, but they reject a lot of it. Whatever they reject goes to the chemical recycling. The main technology today to deal with chemical recycling is pyrolysis. It's a very challenged approach. Basically, the companies that you see below it, Mura was associated with Dow Chemical. Quantafuel used to be associated with BASF. Honeywell, I'm sure you've heard.
Lots of large organizations that are dealing with it. The DNA of all of them is the same. They required some form of hydrogenation, so management of hydrogen is quite an issue in this space. Remember, we're dealing with garbage, so when you put a lot of garbage today inside, there's issues of contamination and tolerance for contamination. In coming with the coming regulations, many of those organization are producing oil for circularity, but also large quantity of fuel, and the fuel is really not get any credit for that. In fact, they get penalized. If you're producing fuel, you get your, you know, ton CO2 penalties. Aduro is for the first time coming with, after many years, coming with a new approach, which called the chemolysis.
Pay attention, you see many technologies developing solutions under the pyrolysis. Currently, it's only Aduro that producing an alternative right now in the chemolysis space, Aduro's performance are superior to many of the technologies you see here. We have high tolerance to contamination. Our yield is much better. We do not need any hydrogen. Everything that we do is on a smaller scale, which means we have this ability to configure and scale up the units. There's a lot of good benefit there that simply overpower those pyrolysis technologies. We are, I'll say, considered to be, you know, potential as a next generation to pyrolysis. Actually, the technology that will replace the approach, not the technologies beneath that.
Some numbers in terms of marketing where it's very, very active and dynamic market. Society produce about 400 million tons to this day every year. This is on top of the billions of waste plastic that is out there. Of that number, you can see, about half of it could be basically processed. All the companies that I showed you just owns 1% of the market. The rest of the 9% is mechanical recycling. Aduro's addressable market or opportunity basically to the market is everything that is destined to end up in a landfill. Basically, everything that has a little bit more-- is rejected, has a little bit more contamination, is not really sorted out in one way or the other, we have this opportunity to take on.
For that reason, we think we have a really good opportunity for fast growth. The way we are growing basically, and we just have a pilot that is up and running today in our lab, we're based in London, Ontario, is that we are very much going after the simple applications first, which you can find here. Agricultural waste, marine waste, synthetic turf. Those applications helps us to generate revenue quite close, and we are just about to build our first unit somewhere in the Netherlands called Chemelot. As we move on, in generating information, all we need to do is to upgrade our little unit to be able to deal with much more complex material.
We take material, we start with material that is simple, and we'll move forward and deal with the waste product, which is basically the large feedstock that everyone is looking at. Aduro, just in general, every year we set some goals. We tell our investors what are we doing, how we're gonna do it. We've done fantastically well in the last four years. This year, our goals basically is to generate a lot of data from our pilot and to advance our work towards the industrial machine, the first of a kind. On the way, we have some partners that are working with us. Some of the partners that you can see here, one of them is Total right now. This is one of the largest pipe producers in the world.
Everything that you see in the house in terms of hot and cold pipes is very complex material to recycle. We are one of the only contender that can recycle this. We have partners in other areas that related to maybe smaller size applications such as synthetic turf or agricultural waste. This is where we are today. We started with very much a lab area, but we've been working very hard over the last four years. We built what we call a technology demonstration unit. When we built it and we worked on it, we already had enough information to go on and move into the pilot. The pilot is up and running. We're now testing it. We're increasing the operation days from, you know, one day, two days, three days, four days .
At some point of time, it will become indefinitely, and we could run it. The performance so far of the pilot is quite well, so our chemistry is happening. We see higher yield. We see information that we like. We have a little bit more work on the optimization, but in general, we don't see any red lights to allow us to move to the next phase. We recently announced that we are moving into the next phase where we selected a site in the Netherlands. It's called, basically Brightlands Chemelot . It's a large chemical hub. One of our customers is just 50 meters behind us. You know, we can reach him via pipeline. Some of our other customers are basically 50 km around us. All the service that we need are around, basically, this chemical hub. We have engineering companies.
We have companies that are doing our permits. We have companies that are breaking ground and working on the building, and we have companies right now that are building the unit. Very, very exciting time for us. Quite, quite busy. We expect this unit will be sometimes at the early 2028, late 2027, up and running. For our investors, we really offer the opportunity to look at what we've been doing for the last four years, to listen to what we say about 2026, 2027, which is for us, again, years that could be turn the company again to another level, and just follow up the news that we are trying to produce and be transparent as we can with, you know, our future and current investors.
I want to take you a little bit to a side application, which is an extension of the chemical recycling. For us, this is basically liquid plastic. We announced it recently. We actually were sitting on this application for many years because we knew we can do it. If we see this application as liquid plastic, if you will, then we wanted to finish first and foremost the know-how and the build-up of our pilot and then our first of a kind and be ready to go and deal with other issues. I mentioned that Aduro is a little bit more also in the energy play. This is a very nice crude. The only challenge is that it's a bit waxy. It's really hard to work with it. It's unpipelineable, basically.
When you look at the crude, it's actually there is quite a lot of good material out of it, but whatever you get after distilling it is really material that cannot move without heating it. This crude requires heating up from the moment it gets out through transportation, through uploading to the terminals. It just needs a lot of energy around it, and because of that, it has some limited marketing approach. We recently took a step around it, and what you see here basically is us taking away the waxiness out of the crude. I wonder if I can just run with this, and I'll show you some pictures and videos. Let's see if that works. That's how the crude looks like, basically. It's very good crude.
It has high value, it's really unpipelineable. If I'll take you to another, while you're looking at this is what we can do with it right now in the lab scale, in the lab phase. We are building up, and we're almost finished building up a continuous flow unit similar to the 100 PC. Basically all we did with this boom is very much it's almost the same crude, same qualities, but we took away all the wax out of it. Just to remind you, we are in the plastic recycling. For this particular crude, it was just an extension and know-how that we know how to do. It was time for us to come, and if you ask where you can find it, about 20% or 30% of crude in the world that is used is paraffinic crude.
Specifically in our region, one that you can find very close to us is in Utah. There's a basin there that is producing a lot of it, about 175,000 to this day, which is not a big number in compared to Canada. Canada produce about 4 million bbl of heavy oil. We think we are definitely a contender to be a game changer because, you know, if you take the waxiness out of the crude, you create an environment where now the crude could be pipelinable. If the crude could be pipelinable, it could reach out to very different market. We're talking on a play that will take us anywhere from today, you know, years to come, and we think we could be enabling story there. Very much excited to present this thing. It's up and coming.
Some of the recent news that we've been building up, and I just wanna tell you, if you follow the news, basically the news is like I call it like the bell notch. What we do in commercialization phase, basically, we have to go through certain activities in order to reach commercialization phase. We are just about before building our first of a kind unit. We are now just ordering our long lead items. There'll be some announcement that related to the status of this, but we also very much working at the background of the pilot. If you follow up on some of the news that we've done, those are the statements that we told people at the end of 2025.
Some of the statements where we told people at the end of 2024 could be seen in the press release of 2025. All to say that for you as an investors, how would you evaluate what we're doing if not, you know, seeing and judging our execution? I think our execution was to the latter. For 2026 and 2027, which is really again transformable years for us, basically our goal is to run the pilot to a level that we could basically test any crude with any plastic waste, plastic that we want, and indefinite hours as much as we want campaigns to do with it, one week, two weeks time, three weeks time. The team that is basically used to be an R&D team has transformed itself from an R&D to an industrial level scale team.
The R&D remains the same, but all of our work from in the commercialization build us know-how to build industrial scale unit, and we just build up more people on the engineering, more people on the operation. We're building up people in the Netherlands to facilitate that work. All of this come and will be presented in the press release. We have very clean chart about almost, I think, $450 million to this, to this day, US dollars. Whatever you see here is what you get. There's no debt to the company. The company is clean. There's no any financial tools that the company is hanging all over or hanging over on top of the company. It's very straight and clean.
We took us many, many years of execution and discipline to create what we're creating right now. For investors, I think it's just ready to roll again. When you look at this chart, it's a masterpiece for our sake, which is involved a lot of execution and really strong shareholders. Every raise that we did since we've been CAD 0.15 was on a higher price, for example. We know very well how investors feels about dilution. We stay away from that as much as we can. We fight tooth and nail for our investors to stay, you know, and have reasons for us to raise money. We justified it. We always looking for, you know, more than the first year. We're very much cashed up. We have about CAD 40 million in the bank.
We spend about CAD 10 million every year. We have whatever we need right now. The company's cashed up to move on our immediate goals. If they'll be around, it's always will be for the lookout of another year, and it's always be in favor in terms of, you know, where the share price is there, how much interest of the investors to do it, things like that. We're having enough time today to just focus on execution and think about it later, basically. We invite you to do your due diligence, to look at our execution, to investigate what we've done in the past and, you know, decide if we are a contender for you guys to trust us with your money. With that, I'll say thank you very much for your time.
If you have any questions, I'll be happy to answer. If not, we'll just conclude it. We're good? Great. Guys, thank you very much.