Enerkem Inc., a waste-to-biofuels and chemicals company, said that Waste Management, Inc. (NYSE: WM) and EB Investments are investing $15 million for a minority equity interest in Enerkem Alberta Biofuels L.P., which is currently building a full-scale commercial facility in Edmonton, using Enerkem’s proprietary technology.
The equity financing by Waste Management and EB Investments supplements Enerkem’s equity position in the project, along with the $23.35 million in financial support from the project partners, namely Alberta Innovates – Energy and Environment Solutions, the City of Edmonton and Alberta Energy.
Waste Management, Inc. (NYSE: WM) is a minority investor in Enerkem Inc., having led a $59 million financing in June 2011.
