Expansion on the Horizon as Commercial Scale Renewable Fuel Plant Succeeds : Enerkem’s Alberta Waste to Fuel Plant Hits Investor Targets
Montreal based waste to fuel and chemicals firm, Enerkem Inc. has met all operational milestones set by its senior lender Integrated Asset Management (IAM) for its first full-scale commercial facility, located in Edmonton, Alberta,
“The Enerkem Alberta Biofuels facility in Edmonton is fully operational in accordance with very rigorous production criteria,” said Vincent Chornet, president and chief executive officer of Enerkem. “This third-party validation comes in at the right time as we are expanding our footprint in North America and Europe.“
Since the start of production, Enerkem said that its Alberta Biofuels facility has been meeting the highest quality standards set by the International Methanol Producers and Consumers Association (IMPCA) for the production and sale of methanol.
Last year the biorefinery also became the first ISCC certified plant (International Sustainability and Carbon Certification) in the world to convert municipal solid waste into biomethanol.
The facility has been financed by private sources and received funding support from Sustainable Development Technology Canada (SDTC), Alberta Innovates and Alberta Energy. Integrated Asset Management Corp. (“IAM”) (TSX:IAM) is a Canadian alternative asset management company with approximately $2.6 billion in assets and committed capital under management in real estate and private debt.
“As Enerkem’s senior lender we look forward to expanding our partnership through future financing opportunities as the company continues to expand its market outreach,” said Greg Dimmer, managing director IAM Private Debt Group.
According to Chornet Enerkem’s solution “sets a new standard in waste management, biofuels and chemicals, thus accelerating the transition toward a circular economy where waste becomes a resource to make everyday products.”
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