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.