Enerkem raises C$29 million

Canadian waste-to-biofuels company Enerkem has closed C$29 million (€21 million) in additional financing through corporate equity (C$14.5 million) and corporate debt (C$14.2 million) transactions.

As part of the equity financing round, The Westly Group, Fondaction CSN and Quince Associates join existing investors Valero Energy, Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle Capital, who had each invested in the recently announced C$59 million equity tranche.

'The closing of this financing round brings our total amount raised this year to C$88 million, which will allow Enerkem to further develop its commercial activities,' says Vincent Chornet, president and CEO of Enerkem.