Enerkem raises another $50 million Canadian

Enerkem, Inc. (Montreal, Quebec), developer of a technology for converting wastes to biofuels and chemicals, announced that it has closed on a round of $50 million Canadian (about $47 million U.S.) in financing, bringing the company’s total equity investment raised in 2013 to $87 million Canadian. As part of the latest round of financing, Investissement Quebec has jointed existing investors Waste Management of Canada, Rho Ventures, Braemar Energy Ventures, the Westly Group, Cycle Capital, Fonds de solidarité FTQ, and Fondaction, which also increased their investment in Enerkem. The company is operating pilot and demonstration plants in Quebec and is in the final stages of construction of a commercial-scale facility in Edmonton, Alberta. Plans for two more commercial facilities—in Varennes, Quebec, and Pontotoc,