Just over a year after collecting $224m in funding, the biofuel producer has closed a $56.7m round featuring Suncor Energy and Waste Management of Canada.
Synthetic crude producer Suncor Energy and waste management services provider Waste Management of Canada have backed a C$76.3m ($56.7m) funding round for Enerkem, the Canada-based developer of a process that converts solid waste to biofuel.
The round included financial services firm National Bank of Canada, Braemar Energy Ventures, Cycle Capital, Fondaction, Fonds de solidarité FTQ, Investissement Quebec, Rho Ventures, Sunkem and Westly Group.
The government of Quebec also participated, supplying $9.9m through its Fonds du développement économique vehicle.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
