Ottawa biofuels concern receives fresh investment

Brazilian pulp company Fibria Calulose has made a substantial investment into a Canadian biofuels company.

Ensyn, which converts woodwaste into fuel, landed the CA$20 million (€15.6 million) injection this week and brings the company’s value up to CA$330 million.

‘This joint venture will leverage both our expertise in growing fibre and market position in Brazil to create a powerful non-food biofuels growth business over the coming years,’ Fibria CEO Marcelo Castelli said in a statement.

Fibria joins an array of Ensyn investors that includes Credit Suisse, Impax Asset Management of London, CTTV Investments, Felda Palm Industries of Malaysia and Investeco Capital of Toronto.