A Canadian company pioneering waste-to-biofuel technology facilities has attracted C$280 million in new investment.
Enerkem’s tech innovations are beginning to make a big impact on the global biofuel market. It achieved a first in 2017 when it received approval to sell into the American market. And we reported last month that the Quebec-headquartered biotech is going to facilitate 100 biofuel plants across China, as part of a deal with bioeconomy leader, the Sinobioway Group.
China’s Sinobioway and BlackRock, an international investment firm, are two new investors in Enerkem’s $280 million funding round.
“We are very pleased to welcome new investors along with the support of our longstanding existing investors. This new and significant financing will help accelerate our growth and further expand project development and implementation. Now that we have launched the world’s first commercial-scale bioethanol operation in Edmonton, we can focus our efforts on building a strong circular economy for communities around the world by deploying new facilities that address the growing challenges related to waste management and sustainable mobility,” said Enerkem’s President and Chief Executive Officer Vincent Chornet.