Enerkem raises C$15M in project equity financing for its commercial waste-to-biofuels facility in Alberta

13 December 2011

Waste Management and EB Investments are investing C$15 million (US$14.6 million) for a minority equity interest in Enerkem Alberta Biofuels L.P., which is currently building a full-scale commercial facility in Edmonton, using Enerkem’s proprietary technology. (Earlier post.) Total financing raised by Enerkem in 2011, both at the corporate and project subsidiary levels, now amounts to C$103 million.

The Enerkem Alberta Biofuels facility will use the City of Edmonton’s landfill-bound waste to create renewable fuels and chemicals locally. Construction of this commercial plant is well underway, which 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$23.35 million in financial support from the project partners, namely Alberta Innovates – Energy and Environment Solutions, the City of Edmonton and Alberta Energy.