MONTREAL, CANADA, Enerkem Inc., a leading waste-to-biofuels and chemicals company, announced today the closing of US$30 million in additional financing through corporate equity (US$15.3 million) and corporate debt (US$15 million) transactions.

As part of the equity financing round, The Westly Group, Fondaction CSN and Quince Associates, L.P. join existing investors Valero Energy Corp., Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle Capital, who had each invested in the recently announced US$60 million equity tranche.

"The closing of this financing round brings our total amount raised this year to US$90 million, which will allow Enerkem to further develop its commercial activities", said Vincent Chornet, President and CEO of Enerkem. "This financing along with our full-scale commercial plants underway solidify our company's leading position in the growing clean transportation fuels and biochemicals market."

"With an innovative technology, strategic investors in both upstream and downstream industries, and commercial projects under construction and under development, Enerkem is well positioned to capitalize on the emerging trends in the transportation fuels and waste industries", said Mike Jackson, Principal at The Westly Group.

About Enerkem
Enerkem develops fuels and chemicals made from garbage instead of oil or other fossil fuels. The company's cost-effective thermo-chemical technology converts waste - such as unrecyclable household garbage, demolition debris and used utility poles - into chemical-grade syngas, which is used to create advanced ethanol, bioacetates and other intermediate chemicals that form everyday products. The company currently operates two facilities in Quebec and in 2010, began construction of a municipal waste-to-biofuels plant in Alberta. In 2011, Enerkem expects to break ground on a similar facility in Mississippi for which it is receiving financial support from the USDA and U.S. DOE. www.enerkem.com