Enerkem receives a capital injection of 50 M$ from Suncor
Type of post: NEWS IN BRIEF.
Enerkem has announced the closing of a 50 M$
equity investment from Suncor. In addition to its equity interest, Suncor also
provides technical resources to support the operations of the Enerkem Alberta
Biofuels (EAB), the first commercial-scale plant in the world to turn
non-recyclable, non-compostable mixed municipal solid waste into cellulosic
ethanol.
Press release: “Suncor Energy increases its
participation in Enerkem, strengthening their existing relationship”, 15/10/2019.
Related posts: “Enerkem
begins production of cellulosic ethanol from MSW at its Edmonton biorefinery”,
18/9/2017.
Figure 1. Enerkem Alberta Biofuels (EAB), the
first commercial-scale plant in the world to turn non-recyclable, non-compostable
mixed municipal solid waste into cellulosic ethanol
Suncor is an integrated energy company
headquartered in Calgary (Alberta, Canada). It is strategically focused on
developing one of the world’s largest petroleum resource basins (Canada’s
Athabasca oil sands). It also operates a renewable energy business and conduct
energy trading activities. Suncor is working to responsibly develop petroleum
resources while also growing a renewable energy portfolio. Suncor first
participated in the ownership of Enerkem in April 2019 as part of a 76.3 M$
equity financing alongside Enerkem's existing shareholders. With this new
investment, Suncor becomes a significant, strategic shareholder of Enerkem.