Enerkem Technologies, a Canada-based provider of synthetic gas and other alternative fuels, has raised CAD53.8m in a venture capital funding round from Waste Management.
Existing investors Rho Ventures, Braemar Energy Ventures, BDR Capital and Cycle Capital Management also participated in the funding round.
The investment will support Enerkem’s growth plan, including initiating the construction of its second waste-to-biofuels plant.
Morgan Stanley acted as adviser to Enerkem on this transaction.
