Canadian waste-to-biofuels company Enerkem Inc said on Tuesday it has raised CAD 280 million (USD 223m/EUR 182m) in its largest investment round so far.
The financing round saw Enerkem attract investment manager BlackRock Inc (NYSE:BLK) and Sinobioway of China as new investors. Existing investors also took part.
Enerkem's president and chief executive Vincent Chornet said the financing will help the company accelerate growth and expand project development and implementation.Having launched the world's first commercial-scale bioethanol operation in Edmonton, Alberta, Enerkem can now focus on deploying facilities around the world, the CEO added. The company's technology turns non-recyclable, non-compostable municipal solid waste into methanol, ethanol and other chemicals. Its investors include Rho Ventures, Braemar Energy Ventures, Waste Management of Canada, Investissement Quebec, Fonds de solidarite FTQ, Cycle Capital, Fondaction, The Westly Group, and the National Bank of Canada.
Article by Renewables Now: Enerkem raises USD 223m, BlackRock joins as investor
Enerkem raises USD 223m, BlackRock joins as investor