Canada-based Enerkem Inc., a waste-to-biofuels and chemicals producer, has raised C$152.6 million (US$115 million) and has initiated the production of biomethanol from non-recyclable household garbage at the Enerkem Alberta Biofuels full-scale facility in Edmonton, Canada.
The financings comprise a recently accessed C$29-million (US$22-million) debt facility from Integrated Asset Management Corp.’s (IAM) Private Debt Group as well as C$50 million (US$38 million) in private placements from current investors and C$73.6 (US$56 million) million of debt from two other lenders, closed over the past year. This funding will be used for the product expansion of the Edmonton facility and the company’s global growth.
With its proprietary thermochemical process, Enerkem converts non-recyclable municipal solid waste into methanol, ethanol and other widely used chemical intermediates.
Enerkem owns a full-scale commercial facility in Alberta as well as a demonstration plant and a pilot facility in Québec. The company is developing additional biorefineries in North America and globally, based on its modular manufacturing approach.