Biofuels producer Enerkem secures $152.6 mln in growth funding

Enerkem Inc, a waste-to-biofuels and chemicals producer, has raised $152.6 million in follow-on financing. The round, closed over the past year, included $29 million in debt from the Private Debt Group of Integrated Asset Management Corp, $50 million from existing investors, and $73.6 million in debt from two other lenders. Enerkem's current backers include: Braemar Energy Ventures, Cycle Capital Management, Fondaction CSN, Fonds de solidarité FTQ, Rho Capital Partners, Waste Management Inc and The Westly Group. The Montréal-based company said the round's proceeds will be used to promote global growth and to expand its full-scale biomethanol facility in Edmonton.

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