EnerPure Secures $35M for Used Motor Oil-to-Bunker Fuel Recycling Plant in Canada

Canadian company EnerPure has secured $35 million in funding for its ambitious project to recycle used motor oil into bunker fuel. The financing was led by Rice Investment Group, with Canada Growth Fund participating as a co-investor.

The funds will support the development and construction of EnerPure's first commercial used motor oil recycling plant in Alberta, which is expected to process 32.6 million litres of used motor oil into marine fuels like VLSFO and LSMGO.

Separately, EnerPure received Canadian $6.2 million ($4.5 million) from climate funding agency Emissions Reduction Alberta for the development of the Alberta plant.