Enerkem Inc. has signed an agreement with Sinobioway Group worth more than CAD 125 million (USD 100.25 million) in the form of equity investment in Enerkem Inc., future licenses, equipment manufacturing and sales, as well as the creation of a joint venture to build more than 100 Enerkem facilities in China by 2035.
The announcement was made in the presence of the Premier of Quebec, Canada, Philippe Couillard, during his China trade mission.
Sinobioway, a flagship conglomerate in China’s bio-industry, will help accelerate Enerkem’s global growth by opening the Chinese market to Enerkem’s pioneering waste-to-biofuels technology. This joint venture will spearhead the development of a clean economy, reducing air pollution by producing renewable fuels from non-recyclable garbage.
“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 Vincent Chornet, president and CEO of Enerkem. “We are proud to collaborate with a leading Chinese bio-industrial partner to expand our commercial footprint.”
“We are excited to partner with a leading Canadian cleantech company to help meet our country’s commitment to reducing greenhouse gas emissions and move towards renewable energy,” said Aihua Pan, Sinobioway’s chairman.
Sinobioway is a leading Chinese company engaged in the bio-economy. The group primarily invests in bio-energy, bio-environmental protection, bio-medicine, bio-agriculture, bio-service, bio-manufacturing, and bio-intelligence areas. With 4,000 employees, it is one of the three main industrial groups affiliated with Peking University. The company was founded in 1992 and is based in Beijing, China.
Enerkem produces biofuels and renewable chemicals from waste. Its disruptive proprietary technology converts non-recyclable, non-compostable municipal solid waste into methanol, ethanol and other widely-used chemical intermediates. Headquartered in Montreal (QC), Canada, Enerkem operates a full-scale commercial facility in Alberta as well as an innovation center in Quebec. Enerkem’s facilities are built as prefabricated systems based on the company’s modular manufacturing infrastructure that can be deployed globally. Enerkem’s technology helps diversify the energy mix and make everyday products greener while offering a smart, sustainable alternative to landfilling and incineration.