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BlackRock among the investors as Enerkem raises C$280 million in largest ever funding round.

Posted on Feb 20, 2018 9:14:00 PM

BlackRock among the investors as Enerkem raises C$280 million in largest ever funding round.Enerkem the Montreal-based cleantech company whose technology converts waste into transportation fuels and chemicals have announced a C$280 million investment round– its largest to date. This funding includes two new investors; BlackRock, the world's largest asset manager who manage six trillion dollars in assets on behalf of their clients and Sinobioway, a leading Chinese company engaged in the bio-economy. Affiliated with Peking University, this industrial group invests in a wide variety of bio-industries.

Proud believers in the circular economy and it what it can achieve, the Canadian company offer a smart, sustainable alternative to landfilling and incineration Enerkem operates a full-scale commercial facility in Alberta (pictured above) as well as an innovation centre in Quebec. Their facilities are built as prefabricated systems based on a modular system, ensuring the infrastructure can be deployed globally.

In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. Existing Enerkem ( @Enerkem @EnerkemQC )  investors include Rho Ventures, Braemar Energy Ventures, Waste Management of Canada, Investissement Québec, Fonds de solidarité FTQ, Cycle Capital, Fondaction, The Westly Group, and the National Bank of Canada.

"We are very pleased to welcome new investors along with the support of our longstanding existing investors," said Enerkem's President and Chief Executive Officer Vincent Chornet. "This new and significant financing will help accelerate our growth and further expand project development and implementation. Now that we have launched the world's first commercial-scale bioethanol operation in Edmonton, we can focus our efforts on building a strong circular economy for communities around the world by deploying new facilities that address the growing challenges related to waste management and sustainable mobility."

"BlackRock ( @blackrock is pleased to join the investment group on behalf of our clients and to help facilitate the launch of innovative waste-to-biofuel facilities worldwide," said David Trucano, Portfolio Manager, BlackRock Global Credit team, which invested in the company's senior notes.

Tim Cesarek, SVP Business Development at Enerkem is one of over 100 expert speakers confirmed for World Bio Markets 2018,(Amsterdam, March 20th-22nd), Dedicated to the industry, World Bio Markets brings together expert speakers from across the value chain for three full days of networking and learning.  Book your ticket today - ticket prices go up on Friday 23rd, so don't delay! 




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Attend: World Bio Markets, Amsterdam, March 20th-22nd 2018.

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Download: Issue #8 of the Bio-Based World Quarterly.

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Luke Upton
Luke Upton
Luke is the editor and co-founder of Bio-Based World has edited this site since its launch and previously worked for b2b media companies across industries including energy, advertising and sport. His more