Jan. 12, 2010, Mississauga, ON – Woodland
Biofuels has announced the closing of a common equity investment in the company
to help build a demonstration plant that will produce cellulosic ethanol from
renewable wastes. The common equity investment is part of a $12-million
demonstration plant financing. Investors include the Ontario Emerging
Technologies Fund (OETF), Investeco Capital, and David LeGresley, former
vice-chairman of National Bank Financial. OETF is a $250 million fund established
by the province of Ontario to co-invest alongside qualified investors in
innovative, high-growth, private Ontario companies. Investeco Capital is a
private equity firm focused primarily on high-growth companies with lasting
competitive advantages.
The demonstration plant will use Woodland's
patented technology, which can produce sustainable fuels from virtually any
type of biomass, including wood waste, agricultural waste, and municipal waste.
It will be located at the Bioindustrial Innovation Centre, in the University of
Western Ontario's Sarnia-Lambton Research Park. The technology generates no
toxic emissions and eliminates the need to use grain crops to produce
ethanol.
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