NextGen Biofuels Fund backs development of cellulosic ethanol facility
NextGen Biofuels Fund, which is managed by Sustainable Development Technology Canada, has contributed $734,500 to support development of a Varennes, Québec-based cellulosic ethanol facility. The facility will be built and operated by Vanerco, a partnership formed by Enerkem Inc, a biofuels and renewable chemicals company, and GreenField Ethanol Inc, a specialty alcohols producer. It could over time access up to $39.8 million in repayable funding. Enerkem is backed by multiple Canadian and U.S. venture capital firms, while GreenField is a portfolio company of Birch Hill Equity Partners and other investors.
2 October 2013•4 mins read
