Cellufuel Nears $5M Funding Round
Cellufuel, the company developing a biomass facility at the site of the former Bowater Mersey paper mill, is working hard to finalize a $5 million funding round, half of which is equity investment from private sources.
The Halifax-based company hopes to have the demonstration facility in Brooklyn, near Liverpool, N.S., operating late this year of early or early in 2015. Cellufuel then hopes to move on to a larger commercial facility, possibly in Claire, N.S., near the southern tip of the province.
“We have the Canadian license (to the technology) and we’re looking at Nova Scotia first,”