Enerkem raises $50M in latest financing round
June 20, 2013
By Canadian Biomass
June 20, 2013, Montreal, Que. – Enerkem Inc. announced the closing of a $50 million financing, which brings total equity investment raised by Enerkem in 2013 to $87 million.
As part of this financing,
institutional fund Investissement Québec joins existing investors Waste
Management of Canada, Rho Ventures, Braemar Energy Ventures, The Westly Group,
Cycle Capital, Fonds de solidarité FTQ and Fondaction, who each increased their
investment in Enerkem with this new equity financing round.
Investissement Québec, as a
mandatary for the Government of Québec, is one of the largest institutional
investors in Canada. Through structural investments, it supports the growth of
innovative companies with a global competitive edge and the potential to
accelerate the transition to a green manufacturing economy.
"Enerkem is living
proof that biofuels can be a wonderful opportunity for economic growth.
Enerkem's projects not only create jobs but also reduce the carbon footprint
left by our transport systems, and they can clearly have a beneficial effect on
our balance of trade," said Quebec Premier, Pauline Marois
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