DAILY NEWS Jan 21, 2013 11:20 AM - 0 comments

Waste Management pumps $37 million into Enerkem

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By: SWR Staff
January 21, 2013 2013-01-21

As Enerkem get its new Alberta Biofuels facility in Edmonton underway, investors from Waste Management and EB Canada have contributed $37 million to strengthen the partnership.

The new facility is currently under construction and will be one of the first full-scale advanced biofuels facilities in North America, Enerkem says. It will use the City of Edmonton's non recyclable and non compostable waste to produce renewable fuels and chemicals, and will create more than 30 permanent jobs, in addition to 200 jobs during construction.

“With plant commissioning expected to begin this summer, it's exciting to see the facility's first employees join the Enerkem team and start their technical training,” said Vincent Chornet, president and CEO of Enerkem in a statement to media. “We are impressed by the quality and calibre of the candidates we are attracting as part of our recruitment process.”

Enerkem announced that it has closed a $37 million financing with Waste Management of Canada Corporation, a subsidiary of Waste Management, Inc. and EB Investments for Enerkem Alberta Biofuels L.P.

“We're glad to see Waste Management and EB Investments strengthen their relationship with us by increasing their direct investment in the Edmonton facility,” added Chornet. “This is further validation of Enerkem's business model and leadership position in the market for waste-to-fuels and chemicals.”



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