Enerkem, a Canada-headquartered global technology provider enabling low-carbon fuels and chemicals founded in 2000, started a new phase of growth, supported by a strengthened financial foundation, renewed investor confidence, and a clear strategy for global market leadership.
The Repsol’s Board of Directors has officially approved the Final Investment Decision (FID) for the Ecoplanta project, marking a significant milestone in the drive for the supply of sustainable fuel and product.
Enerkem will be retiring its Enerkem Alberta Biofuels (EAB) plant in Edmonton. According to the Canadian company the facility achieved its main objective of completing the commercial scale-up of Enerkem’s industry-leading technology. With more than 15,000 hours of operation producing ethanol and methanol (ISCC EU and ISCC PLUS certified), the plant facilitated the validation by strategic industry players and other third parties of Enerkem’s innovative waste-to-biofuels platform. It also allowed Enerkem to attract global partners and investors while developing a world-class team with expertise in design and deployment of advanced gasification technology.
Enerkem Inc. and Technip Energies have signed a memorandum of understanding to enter into a Collaboration Agreement aimed at accelerating the deployment of Enerkem’s technology platform for biofuels and circular chemical products from non-recyclable waste materials.
Canadian company Enerkem, a world leader in the production of low-carbon intensity biofuels and circular chemicals from waste materials, closed a new financing totaling $255 million. Repsol invests $170 million, of which $75 million is in Enerkem’s equity and $95 million in convertible debt. In doing so, Repsol joins existing shareholder Suncor Energy as a strategic shareholder to accelerate the adoption and deployment of Enerkem’s technology and to develop new projects in the Iberian Peninsula (Spain and Portugal). In addition, Monarch Alternative Capital, a new investor, is contributing $30 million to the round while Avenue Capital Group is reinvesting $30 million, both in convertible debt. Finally, there is $25 million reinvested in equity by some existing shareholders.
Enerkem, a world leader in the production of biofuels from waste materials based in Canada, achieved a major breakthrough in converting carbon from forest biomass into sustainable aviation fuel (SAF) using its proprietary thermochemical process. This important milestone was achieved at Enerkem’s Innovation Centre in Westbury, Quebec. It will be followed by the demonstration phase, which will lead to commercialization in the near future. This research is part of The Sky’s the Limit Challenge organized by Natural Resources Canada and for which Enerkem was selected as a finalist.
Canadian company Enerkem joined forces with Shell to provide an end-to-end technical solution for converting hard-to-recycle waste into jet fuel by combining Enerkem’s waste gasification technology and Shell’s Fischer-Tropsch technology. The partners in the project have decided to repurpose the current project waste-to-chemicals to focus on SAF production. The project would process up to 360,000 tonnes per annum of recycling rejects and produce up to 80,000 tonnes of renewable products, of which around 75% could be SAF and the remainder used for road fuels or to feed circular chemicals production.
Canadian Enerkem, with a group of strategic partners, that include major investor Shell, along with Suncor and Proman and Hydro-Québec supplying green hydrogen and oxygen, and with the support of the Québec and Canadian governments, will build a biofuel and renewable chemicals plant in Varennes, in the Greater Montréal area.
Varennes Carbon Recycling (VCR) will produce biofuels and renewable chemicals made from non-recyclable residual materials as well as wood waste. The plant will leverage green hydrogen and oxygen produced through electrolysis, transforming Quebec’s excess hydroelectricity capacity into value-added biofuels and renewable chemicals. VCR will be a major creator of quality local direct and indirect jobs during its construction and operation.
Two Canadian companies will collaborate on innovative technology to close the loop on recycling and drive a plastics circular economy. Nova Chemicals, a leading producer of chemicals and plastic resins, and Enerkem, a world-leading waste to renewable fuels and chemicals producer, have entered into a joint development agreement to explore turning non-recyclable and non-compostable municipal waste into ethylene, a basic building block of plastics.
Enerkem Inc., a global leader in biofuels production from solid waste, closed last April a new round of financing totalling C$76.3 million. The financing comes from Enerkem’s existing investors, as well as a new investor, Suncor Energy Inc. This injection of additional capital will help foster the company’s growth by continuing the development of its other projects, including in Varennes, Québec, and Rotterdam, the Netherlands.
IL BIOECONOMISTA 