Enerkem Inc., has announced that its first full-scale commercial facility, located in Edmonton, Alberta, has met all operational milestones set by its senior lender Integrated Asset Management Corp (IAM).
Canada-based waste-to-biofuels and chemicals producer, Enerkem Inc., has announced that its first full-scale commercial facility, located in Edmonton, Alberta, has met all operational milestones set by its senior lender Integrated Asset Management Corp (IAM), one of Canada’s leading alternative asset management companies with approximately CA$2.6 billion in assets and committed capital under management in real estate and private debt.
– The Enerkem Alberta Biofuels facility in Edmonton is fully operational in accordance with very rigorous production criteria. This third-party validation comes in at the right time as we are expanding our footprint in North America and Europe. Our disruptive 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, said Vincent Chornet, President and Chief Executive Officer of Enerkem in a statement.
According to Enerkem, its proprietary thermo-chemcial conversion technology turns household waste into 99.9 percent pure liquid chemicals and biofuels. Since the start of production, the 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, Enerkem’s biorefinery also became the first International Sustainability and Carbon Certification (ISCC) certified plant in the world to convert municipal solid waste into biomethanol. The pioneering facility has been financed by private sources and received funding support from Sustainable Development Technology Canada (SDTC), Alberta Innovates and Alberta Energy.
– We have been impressed with Enerkem’s discipline and commitment throughout the process of ramping-up the world’s first commercial operation of its kind. 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.
