The long and sometimes perilous journey to financing Enerkem’s first commercial project appears to have reached the sunny shores of Completionland. In Canada, Enerkem announced that it has closed a $37.5 million financing with Waste Management of Canada Corporation, a subsidiary of Waste Management, and EB Investments for Enerkem Alberta Biofuels L.P.
“We’re glad to see Waste Management and EB Investments strengthen their relationship with us by increasing their direct investment in the Edmonton facility”, noted Enerkem CEO Vincent Chornet. “This is further validation of Enerkem’s business model and leadership position in the market for waste-to-fuels and chemicals.”
Tags: Alberta facility, Biomethanol, cellulosic ethanol, IPO, industrial biotech boom, “Enerkem Biofuels”, commercialization, waste-to-fuel, final financing
Source: BiofuelsDigest, 2013-01-17.