China’s Sinobioway Invests in Enerkem
Chinese bio-industrial conglomerate Sinobioway Group has made an equity investment of Can$125 million into Enerkem, a Canadian manufacturer of biofuels and renewable chemicals from waste.
The size of the equity stake was not revealed, but Enerkem said it expects the investment to accelerate its global growth plans by opening the Chinese market to its waste-to-biofuels technology.
The partnership was announced during the visit of Quebec Premier Philippe Couillard to China as part of a trade mission that is taking place from Jan. 20-27.
Sinobioway’s investment also includes future licenses, equipment manufacture and sales as well as the creation of a joint venture that will build more than 100 Enerkem waste-to-biofuels facilities in China by 2035.
“Our breakthrough clean technology produces a much needed low-carbon transportation fuel and sustainable waste management solution to help China achieve its climate change objectives,” said Enerkem’s president and CEO, Vincent Chornet.
The Montreal-based company said its proprietary disruptive technology converts non-recyclable, non-compostable municipal solid waste into methanol, ethanol and other widely used chemical intermediates.
Enerkem operates a plant in Edmonton, Alberta, Canada, along with a pilot-scale facility and innovation center in Quebec. The Edmonton plant began commercial production of cellulosic ethanol in September 2017. The company said it is developing additional biorefinery facilities around the world, based on its modular manufacturing footprint.