Enerkem receives a capital injection of 50 M$ from Suncor

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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.

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