EnerPure closes US$35M commercialization financing

EnerPure Inc., a Canadian clean-technology company that recycles used motor oil into lower-carbon marine fuels, closed a US$35 million (approximately C$48 million) all-equity commercialization financing. The round was led by Rice Investment Group, with Canada — Canada Growth Fund participating as co-investor. Proceeds will fund the development and construction of EnerPure's first commercial UMO recycling plant, the Alberta Commercial Plant, repay certain debt, provide working capital, and advance a second plant. The plant is targeted for completion in the first half of 2028. EnerPure also previously received a C$6.2 million grant from Alberta — Emissions Reduction Alberta. Following the closing, Ryan Kanto and Andrea Decore joined the board, while Albert Krahn, Paul Paradis, and Rachel Carroll stepped down. Todd Habicht transitioned to Chairman Emeritus and Senior Executive Advisor.