You are here: Home » News » Week of Jan. 16-22, 2013 » Story: 7

Upcoming Events

See More Detail . . .  

Latest News & Events

Headlines

Events

Get the Latest
News Delivered!

Waste Management Raises Stake in Enerkem

Date: January 16, 2013

Source: Enerkem

Waste-to-biofuels and chemicals company Enerkem Inc. (Montreal, QC), which is about to open a new biofuels facility in Edmonton, AB this summer, has closed on a new $37.5 million investment from existing investors Waste Management Inc. and EB Investments. "We're glad to see Waste Management and EB Investments strengthen their relationship with us by increasing their direct investment in the Edmonton facility," said Vincent Chornet, president and CEO of Enerkem. "This is further validation of Enerkem's business model and leadership position in the market for waste-to-fuels and chemicals." Enerkem makes biofuels from non-recyclable municipal solid waste. A gasifier converts the waste into a pure synthesis gas (or syngas) that can then be converted into chemicals or biofuels using chemical catalysts. The company broke ground on the Edmonton facility in Oct. 2011. It is one of two plants that will produce 10 million gallons of biofuel per year; a second similar facility is being developed in Pontotoc, MS.


PRESS RELEASE
January 16, 2013

Key investors raise their participation in Enerkem Alberta Biofuels by C$37 million as facility welcomes first employees

Enerkem Inc. (www.enerkem.com), a waste-to-biofuels and chemical company, is pleased to welcome the first employees to the Enerkem Alberta Biofuels facility in Edmonton. This facility is currently under construction and will be one of the first full-scale advanced biofuels facilities in North America. It will use the City of Edmonton's non recyclable and non compostable waste to produce renewable fuels and chemicals, and will create more than 30 permanent jobs, in addition to 200 jobs during construction.

"With plant commissioning expected to begin this summer, it's exciting to see the facility's first employees join the Enerkem team and start their technical training", said Vincent Chornet, president and CEO of Enerkem. "We are impressed by the quality and calibre of the candidates we are attracting as part of our recruitment process."

Enerkem also announced today that it has closed a C$37 million financing with Waste Management of Canada Corporation, a subsidiary of Waste Management, Inc. (NYSE: WM) and EB Investments for Enerkem Alberta Biofuels L.P.: "We're glad to see Waste Management and EB Investments strengthen their relationship with us by increasing their direct investment in the Edmonton facility", added Mr. Chornet. "This is further validation of Enerkem's business model and leadership position in the market for waste-to-fuels and chemicals."

About Enerkem

Enerkem makes biofuels and renewable chemicals from waste. With its proprietary technology, Enerkem converts non recyclable municipal solid waste into methanol, ethanol and other widely used chemical intermediates. Headquartered in Canada, Enerkem operates both a demonstration plant and a pilot facility in Quebec. Enerkem is currently building a full-scale waste-to-biofuels facility in Edmonton, Alberta, and is developing similar facilities in North America and globally. Enerkem's technology and facilities help diversify the energy mix and make greener everyday products while offering an alternative to landfilling. www.enerkem.com.

For more information about Enerkem Alberta Biofuels:
www.enerkem.com/en/facilities/plants/edmonton-alberta-canada
www.edmontonbiofuels.ca.

Just Released!

Click for details

Focus on Your Market...

Click for details

Updated for 2011!

Click for details