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Joined by EB Investments, Waste Management, Inc. (Houston, TX) has made an investment of $14.6 million in Enerkem Inc. (Montreal, Quebec), a developer of thermo-chemical technology for converting waste into biofuels. Through the investment, Waste Management has taken a minority equity interest in Enerkem Alberta Biofuels LP, which is building a commercial-scale biofuels production plant in Edmonton, Alberta, that will use the city’s municipal solid waste as a feedstock. Waste Management’s investment is not its first in Enerkem; in March 2010, it joined a group of institutional investors in a $51.6 million round of financing to support the construction of a waste-to-biofuels plant in Michigan. Tim Cesarek, managing director of organic growth at Waste Management, is on Enerkem’s board of directors.
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