Canary Biofuels Nails Invigor Bioenergy Acquisition (M&A)
On the Canadian prairies, Calgary-headquartered Canary Biofuels Inc. is reporting completion of a $16.5 million (Cdn) non-brokered private placement equity financing and closing of its acquisition of biodiesel producer Invigor Bioenergy Corporation, also of Calgary. The company also inked an agreement with Canadian Western Bank providing for a credit facility with $7 million of borrowing capacity.
Canary will use proceeds from the financing to convert the Invigor biodiesel facility to produce 75 million lpy of second-generation biodiesel from agricultural waste feedstock before the year end.
(Source: Canary Biofuels Inc., PR, CNW, 3 Mar., 2021) Contact: Canary Biofuels, George Wadsworth Pres., www.canarybiofuels.com;
Invigor Bioenergy, (403) 243-4584, www.invigor-energy.ca
More Low-Carbon Energy News Invigor Bioenergy, Canary Biofuel, Biodiesel,