Enerkem Varennes Carbon Recycling

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Powered by Enerkem’s exclusive technology, the Varennes Carbon Recycling project will convert non-recyclable waste and residual biomass into biofuels and circular chemicals. This supports Canada’s goal of accelerating efforts to be net zero by 2050.The plant will be an example of Canadian know-how and leadership in the development and deployment of innovative clean technologies. Enerkem was able to bring together world-class global strategic partners who are taking a leading role in this flagship facility of the green economy.The Varennes biorefinery will also include North America’s largest electrolyzer that supplies green hydrogen and oxygen. The facility will have a capacity of up to 130 million litres of biofuels per year after commercial operations are launched in 2025.The CIB’s investment of $277 million will help support project financing with flexible terms commensurate with the risk profile.Benefits of CIB’s InvolvementOur first investment in low carbon fuel, carbon capture utilization storage and hydrogen sector supports innovative technology and sustainable development while also filling structural lending gaps caused by uncertainty over biofuel prices. The sales strategy of biofuels will be based on the ability to generate the highest green premium in either North America or Europe.

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