Biofuels producer Enerkem closes $76.3 mln round, Suncor invests

Enerkem, a Montréal-based producer of biofuels and renewable chemicals from waste, has secured $76.3 million in a follow-on financing. New investor Suncor, a Calgary-based energy company, backed the round alongside existing investors. The latter include Braemar Energy Ventures, Cycle Capital, Fondaction, Fonds de solidarité FTQ, IQ, National Bank, Rho Ventures, Sunkem, Waste Management of Canada and Westly Group. Enerkem said the proceeds will fund development of its waste-to-energy facilities, including in Varennes, Québec, and Rotterdam, Holland. The round, combined with the company's $280 million deal in 2018, brings total financing to more than $676 million.

CanadaNorth AmericaBriefs