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Calgary, Alberta, July 12, 2024 — AdvEn Inc., a pioneering Canadian producer of advanced super activated carbon (ASAC) products from petroleum refining residues, announced today that it has filed a F-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with a proposed initial public offering (IPO) of its common shares.
The offering is expected to raise up to $8 million through the sale of 1.6 million shares at a price range of $4 to $6 per share. At the midpoint of this range, AdvEn would achieve a fully diluted market value of approximately $105 million. The Company plans to list its common stock on the NYSE American under the symbol “ADVEN.”
AdvEn Inc., founded in 2011, is dedicated to research, development, and commercialization of its patented advanced super activated carbon (ASAC) and dry electrode super adhesive coating (ESAC) technologies. These innovative technologies have the potential to significantly enhance the performance and useful life of energy storage materials and components whilst materially reducing GHG emissions and the use of energy when compared to existing technology used to produce supercapacitors and batteries.
The Company has recently completed the construction of its first production plant for ASAC products and anticipates the completion of the plant’s commissioning and commencement of commercial production by the third quarter of 2024. The Company currently has indicative commitments for more than double the full production capacity of the plant.
“We are excited to take this significant step toward becoming a publicly traded company,” said Dr. Yanguang Yuan, CEO of AdvEn Inc. “This IPO will enable us to accelerate growth by scaling our business, and continuing to develop and commercialize other products and technologies to create long-term value for our shareholders.”
Spartan Capital Securities, LLC will serve as a bookrunner for the proposed offering.
About Us
AdvEn Inc. (formerly Nano Innovations Inc.), through its wholly owned subsidiary AdvEn Industries Inc., develops and commercializes carbon-centric advanced technologies converting petroleum refinery residues into non-combustible products for energy and environmental applications. AdvEn’s 36,000 ft2 manufacturing plant and research facility in Nisku, Alberta, Canada will initially produce up to 400 metric tons per year of advanced super activated carbon (“ASAC”) before scaling to 1,200 metric tons per year; and is also piloting the Company’s patented dry electrode super adhesive coatings (“ESAC”) process. Both ASAC and ESAC provide superior technical performance, reduced GHG emission and energy consumption with excellent cost efficiency.
AdvEn, ASAC and ESAC are trademarks of AdvEn in Canada and the United States.
Calgary, Alberta — July 17, 2024 — AdvEn Inc. (“AdvEn”) is pleased to announce the appointment of Mr. Philip Chong as the Company’s Chief Financial Officer (“CFO”). “Mr. Chong brings to AdvEn a wealth of international business experience across diverse industries, including financial investment, property development, manufacturing, clean energy, internet, life sciences, and food industries,” […]
Calgary, Alberta — July 15, 2024 — AdvEn Inc. (“AdvEn”) is pleased to announce the appointment of Dr. Yanguang Yuan, as the Company’s Chief Executive Officer (“CEO”). “Dr. Yuan was the founding CEO of AdvEn Inc. and had stepped aside in July 2023 as the Company progressed with plant construction and its initial public offering. […]
Calgary, Alberta — July 15, 2024 — AdvEn Inc. (“AdvEn”) is pleased to announce the appointment of Donald (“Don”) Nicholson to its esteemed Board of Directors, succeeding Eloner Habtezghi. Don brings a wealth of experience in corporate leadership and governance coupled with his extensive engineering career in overseeing major projects across multiple industries. Mr. Nicholson […]
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December 6, 2023 (Calgary, AB) –AdvEn, a leading material technology and manufacturing company, has inked a significant Contribution Agreement with Emissions Reduction Alberta (ERA), securing $2 million in funding for its pioneering project, "Pilot Production of Electrodes for Energy Storage Systems on Industrial-scale Equipment via a Transformative Dry Process.”
