VC-backed Enerkem inks $125 mln deal with China's Sinobioway
Enerkem Inc, a Montréal-based producer of biofuels and renewable chemicals from waste, has struck a $125 million strategic partnership with China's Sinobioway Group. The deal includes equity funding for Enerkem, future licenses, equipment manufacturing and sales, and a joint venture to construct more than 100 Enerkem biofuel facilities in China by 2035. The company said the partnership will help grow its commercial footprint and help China achieve its climate change goals. Enerkem's investors include Braemar Energy Ventures, Cycle Capital Management, Fondaction CSN, Fonds de solidarité FTQ, Rho Capital Partners, Waste Management and Westly Group.
22 January 2018•3 mins read
