Enerkem facility meets operational milestones

Enerkem Inc., a waste-to-biofuels and chemicals producer located in Montreal, Quebec, 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 (IAM).

IAM in Toronto, Ontario, is an alternative asset management company with approximately $2.6 billion in assets and committed capital under management in real estate and private debt. IAM Private Debt Group manages and provides funding from Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. 

"The Enerkem Alberta Biofuels facility in Edmonton is fully operational in accordance with very rigorous production criteria,” says Vincent Chornet, president and CEO of Enerkem. "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."

"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,” says Greg Dimmer, managing director of the IAM Private Debt Group. "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."

Enerkem's technology is designed to turn household waste into 99.9 percent pure liquid chemicals and biofuels. Since the start of production, the Enerkem Alberta Biofuels facility has been meeting standards set by the International Methanol Producers and Consumers Association (IMPCA), Brussels, Belgium, for the production and sale of methanol. Last year, Enerkem's biorefinery also became an International Sustainability and Carbon Certification (ISCC) certified plant.

The facility has been financed by private sources and received funding support from Sustainable Development Technology Canada (SDTC), Alberta Innovates and Alberta Energy.