{"id":357501,"date":"2010-02-24T08:57:51","date_gmt":"2010-02-24T13:57:51","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=6555"},"modified":"2010-02-24T08:57:51","modified_gmt":"2010-02-24T13:57:51","slug":"enerkem-and-waste-management-form-partnership-that-can-only-be-described-as-sensible","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/357501","title":{"rendered":"Enerkem and Waste Management Form Partnership that Can Only Be Described As Sensible"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/biofuel.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Biofuel\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Funding\" \/><\/p>\n<div id=\"attachment_6560\" class=\"wp-caption aligncenter\" style=\"width: 378px\"><a href=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/02\/photo1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-6560  \" title=\"photo1\" src=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/02\/photo1-1023x725.jpg\" alt=\"\" width=\"368\" height=\"261\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Enerkem&#39;s mad scientist laboratory<\/p>\n<\/div>\n<p>Waste-to-biofuels company Enerkem, Inc., <a href=\"http:\/\/www.enerkem.com\/uploads\/editor\/documents\/communiques\/WM%20Enerkem%20News%20Release%20Final.pdf\">has announced<\/a> a CDN $53.8 million roud of financing from its institutional investors and garbage hauling company Waste Management in a marriage that makes all kinds of sense.<\/p>\n<p>Montreal-based Enerkem\u2019s technology turns waste materials into ethanol and will help Waste Management \u201cextract more value from the materials we manage,\u201d according to Waste Company\u2019s Managing Director of Organic Growth Tim Cesarek.<span id=\"more-6555\"><\/span>Enerkem, which <a href=\"http:\/\/greenenergyreporter.com\/2009\/12\/montreal-based-enerkem-scores-50m-doe-funding\/\">received $50 million in funding from the U.S. Energy Department<\/a> in December, takes waste materials and gasifies them into a a\u00a0 product known as \u201csyngas.\u201d<\/p>\n<p>The syngas is cleaned to remove impurities and then treated to produce methanol, ethanol and plastics.<\/p>\n<p>The company is growing rapidly and plans to use its latest financing round to fund construction of its second waste-to-biofuels plant in partnership with the city of Edmonton. The company takes waste from the city to fuel it plant.<a href=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/02\/NY93570LOGO-b.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-6554\" title=\"NY93570LOGO-b\" src=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/02\/NY93570LOGO-b.jpeg\" alt=\"\" width=\"144\" height=\"51\" \/><\/a><\/p>\n<p>Enerkem also has a deal with the Three Rivers Solid Waste Authority to construct a plant in Pontotoc, Miss.<\/p>\n<p>The latest round of financing comes from existing investors Rho Ventures, Braemar Energy Ventures and BDR Capital as well as new investors Waste Management and Cycle Capital.<\/p>\n<p>Morgan Stanley acted as Enerkem\u2019s agent for the deal.<\/p>\n<p>Enerkem Chief Executive Officer Vincent Chornet said the deal shows that his company is a market leader:<\/p>\n<blockquote>\n<p>This financing round validates Enerkem&#8217;s business and advances our path towards leadership in the waste and advanced fuels markets.<\/p>\n<\/blockquote>\n<p>As Green Inc. <a href=\"http:\/\/greeninc.blogs.nytimes.com\/2010\/02\/24\/waste-to-ethanol-venture-attracts-investors\/\">notes<\/a> this morning, Waste Management\u2019s interest in Enerkem is a sign that conventional waste hauling businesses are interested in what biofuel technologies can do for them.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/GreenEnergyReporter\/~4\/dJVMLTmIo14\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enerkem&#39;s mad scientist laboratory Waste-to-biofuels company Enerkem, Inc., has announced a CDN $53.8 million roud of financing from its institutional investors and garbage hauling company Waste Management in a marriage that makes all kinds of sense. Montreal-based Enerkem\u2019s technology turns waste materials into ethanol and will help Waste Management \u201cextract more value from the materials [&hellip;]<\/p>\n","protected":false},"author":854,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-357501","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/357501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/854"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=357501"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/357501\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=357501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=357501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=357501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}