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.
Royal Dutch Shell will join a consortium of world-leading companies comprising Air Liquide, Nouryon (formerly AkzoNobel Specialty Chemicals), Enerkem and the Port of Rotterdam as a partner in Europe’s first advanced waste-to-chemicals facility in Rotterdam, the Netherlands. Shell will become an equal equity partner in the proposed commercial-scale waste-to-chemicals (W2C) project, which will be the first of its kind in Europe to make valuable chemicals and bio-fuels out of non-recyclable waste materials.
Enerkem Inc., a world-leading waste-to-biofuels and chemicals producer headquartered in Canada, has successfully produced a clean, renewable bio-dimethyl ether (Bio-DME), a by-product of biomethanol, that could help address global climate change efficiently by replacing the use of diesel fuel in the transportation sector.
Large research infrastructures, a chemical and paper industry supporting a sector that is considered strategic, clusters that are able to build extended value chains, universities at the level of excellence and a federal government and provinces with a vision and an effective action plan. These are shortly all the strengths of the bioeconomy in Canada, as I saw them last week.
Air Liquide, AkzoNobel Specialty Chemicals, Enerkem and the Port of Rotterdam signed a project development agreement covering initial investments in an advanced waste-to-chemistry facility in Rotterdam, Netherlands. The facility will be the first of its kind in Europe to provide a sustainable alternative solution for non-recyclable wastes, converting waste plastics and other mixed wastes into new raw materials.