Enerkem Inc has secured financing from an intriguing mix of investors such as Valero Energy Corp, Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle Capital to a total of $59 million. Vincent Chornet, CEO of Enerkem, stated that “With Valero joining Waste Management as a strategic investor, Enerkem becomes one of the very few renewable products companies that is aligned with industry leaders from both upstream and downstream parts of the business”. This waste-to biofuel/chemicals company plans to use the money to invest in 10 ethanol plants throughout the Midwest and future projects.
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