Suncor invests another C$50 million in Enerkem

October 16, 2019 |

In Canada, Enerkem Inc. announced the closing of a C$50 million equity investment from Suncor. As Canada’s leading integrated energy company, Suncor first participated in the ownership of Enerkem in April 2019 as part of a C$76.3 million equity financing alongside Enerkem’s existing shareholders. With this new investment, Suncor becomes a significant, strategic shareholder of Enerkem.

In addition to its equity interest, Suncor also provides technical resources to support the operations of the Enerkem Alberta Biofuels (EAB) plant located in Edmonton, Alta. EAB is the first commercial-scale plant in the world to turn non-recyclable, non-compostable mixed municipal solid waste into cellulosic ethanol, a popular biofuel.

Category: Fuels

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