Canadian Waste to Biofuels Facility Secures $15 Million

15 December 2011

Montreal, Canada based waste to biofuels specialist, Enerkem has secured C$15 million ($14.5 million) funding from Waste Management and EB Investments for a minority equity interest in Enerkem Alberta Biofuels (EBA).

According to the company, EBA is currently building a full-scale commercial facility in Edmonton, using Enerkem's technology.

Enerkem said that its EBA facility will use the City of Edmonton's landfill bound waste to create renewable fuels and chemicals locally.

The company added that construction of this commercial facility is well underway, which it claimed places it among the first full-scale advanced biofuels facilities to be built in North America.

This project equity financing by Waste Management and EB Investments supplements Enerkem's equity position in the project, along with the C$23.3 million ($22.5 million) in financial support from the project partners - Alberta Innovates, Energy and Environment Solutions, the City of Edmonton and Alberta Energy, Enerkem said.

The company also noted that the total financing that it raised in 2011, both at the corporate and project subsidiary levels, now amounts to C$103 million ($99.5 million).


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