Canada's Enerkem hooks Blackrock in C$280m funding round

Waste-to-energy producer Enerkem has landed one of the biggest venture capital deals ever in Canada, securing C$280m ($221m) in investments that will be used to fund a global expansion.

Current investors stumped up much of the funding, but the Montreal-based waste-to-energy producer also managed to hook BlackRock, one of the world’s largest investment funds and Chinese biofuels producer Sinobioway.

Enerkem converts treated municipal solid waste into biofuels and renewable chemicals.

Last month Enerkem and Sinobioway agreed a C$125m deal to include the possible construction of around 100 new waste-to-energy facilities in China by 2035.

"This new and significant financing will help accelerate our growth and further expand project development and implementation," said Vincent Chornet, CEO of Enerkem in a statement.