Enerkem Achieves Another Milestone Towards the Commercial Production of Biomethanol
Enerkem has begun production of biomethanol from urban waste in its Edmonton plant, Enerkem Alberta Biofuels.
Commercial operations are scheduled to begin at the end of 2015.
At the same time, Enerkem is currently adding a module to convert methanol into cellulosic ethanol and is planning to begin production in the latter half of 2016.
$152.6 million in funding
Enerkem has also announced that it has secured total funding of $152.6 million to develop its line of products in its Edmonton plant and to support its international growth.
The funding includes: a $29 million loan obtained from the private debt group Integrated Asset Management Corp., $50 million in private placements from current investors, and a $73.6 million loan obtained from two other lenders in the past year.