Airex Energy raises $10 mln of VC to enable biocoal production
Airex Energy Inc, a Laval, Québec-based developer of biomass torrefaction systems, has secured more than $10 million in follow-on financing. Canadian venture capital firms Cycle Capital Management and Desjardins-Innovatech, which have backed the company since 2014, invested in the latest round alongside TechnoClimat, Sustainable Development Technology Canada and other investors. Airex will use the funds raised to expand the commercialization of its CarbonFX technology, which converts biomass into biocoal, and to support new plant operations. Led by CEO Sylvain Bertrand, the company is a spin-off from Airex Industries Inc.
27 February 2017•3 mins read
