NEWS Press releases Feb 24, 2010

Advanced Biofuel Firm Enerkem Secures $54 Million In New Financing

OTTAWA – Today’s closing of CDN $54 (53.8) million in new financing for advanced biofuel firm Enerkem Inc. of Quebec is a positive sign the industry continues to grow and develop in Canada says the Canadian Renewable Fuels Association. Enerkem’s investors include Rho Ventures, Braemar Energy Ventures and BDR Capital as well as a significant new partner in Waste Management, Inc. and Cycle Capital.

“Today’s investment and the new partnership with Waste Management will help Enerkem to continue to pioneer advanced biofuels in Canada, including a new state-of-the art municipal waste to ethanol facility in Edmonton,” Gordon Quaiattini, President of the Canadian Renewable Fuels Association. “Waste Management’s investment is a validation of Enerkem’s technology and Canada’s leadership in developing advanced biofuels.”

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