Biox raises $48 million to expand biodiesel operations
This one slipped past me last week. Oakville, Ontario-based Biox Corp. raised $48 million from Toronto-based Birch Hill Equity Partners Management Inc.
Biox recently completed its first commercial-scale biodiesel production facility in Hamilton, Ontario. The plant can produce 60 million litres per year of the environmentally friendly fuel from a variety of agricultural feedstocks. Biox has plans to build, own and operate similar plants around the world using its own, relatively low-cost proprietary process.
On top of the $48 million raised from Birch Hill, the company raised an additional $22 million from existing shareholders, bringing the total haul to $70 million. Not bad for a Canadian company.
Tyler Hamilton is senior energy reporter and columnist for the Toronto Star, Canada's largest daily newspaper. In addition to this Clean Break blog, Tyler writes a weekly column of the same name that discusses trends, happenings and innovators in the cleantech market. This blog is a personal project started in April 2005. It is not an official blog of the newspaper. Tyler can be reached at tyler@cleanbreak.ca