MONTREAL, Feb. 16 /PRNewswire/ - Enerkem Inc., a leading waste-to-biofuels company, was named one of the World's 50 Most Innovative Companies for 2011 by Fast Company Magazine, in a list that includes Apple, Twitter and Google.
"To create the Most Innovative Companies list, Fast Company's editorial team analyzed information on thousands of businesses across the globe," said Robert Safian, Fast Company's Editor. "The result is a package unlike that of any other business media. It's not just about revenue growth and profit margins. We strive to identify creative models and progressive cultures in order to define the many forms of innovation that exist across the business landscape." www.fastcompany.com
"It's an honour to be ranked among such amazing innovators that include household names," said Vincent Chornet, Enerkem's President and Chief Executive Officer. "Enerkem was founded on the belief that people can live sustainable lives through energy innovation. We are thrilled to be recognized for this and our work in making trash into transportation fuels and advanced chemicals a reality."
This announcement is one in a line of good news for the company. The U.S. Department of Agriculture and the U.S. Department of Energy have announced a combined US$130 million in financial support, building on investments from significant partners: Rho Ventures, Braemar Energy Ventures, Waste Management, Cycle Capital and BDR Capital. In August 2010, the company broke ground on the world's first commercial municipal solid waste-to-biofuel facility, located in Edmonton, Alberta (Canada) and now looks forward to the groundbreaking of a twin biorefinery in Pontotoc, Mississippi (U.S.) later this year. Enerkem has been named one of the 50 Hottest Companies in Bioenergy by Biofuels Digest for two years in a row and a 2010 Global Cleantech 100 Company by the Cleantech Group and The Guardian.
Enerkem is a leading waste-to-biofuels company. Its proprietary clean technology converts waste, such as unrecyclable household garbage, demolition debris and residues from used utility poles, into clean transportation fuels and advanced chemicals. Founded in 2000, the company currently operates two plants in Canada: a pilot facility in Sherbrooke, QC and a commercial demonstration plant in Westbury, QC. In August 2010, Enerkem started construction of its waste-to-biofuels plant in Edmonton, AB, Canada, which was awarded CAD$23 million in funding from the Government of Alberta and the City of Edmonton. The company is developing simultaneously a similar project in Mississippi, U.S.A., for which it was awarded US$50 million in funding by the U.S. Department of Energy (DOE) and US$80 million in loan guarantee by the U.S. Department of Agriculture (USDA). Enerkem was named a 2010 Global Cleantech 100 company and recognized as one of the 50 Hottest Companies in Bioenergy for two years in a row. www.enerkem.com
SOURCE ENERKEM INC.