Enerpure, a clean energy company that recycles motor oil, announced it has raised $48 million (US$35 million) in an all-equity commercialization financing led by Rice Investment Group, with Canada Growth Fund partnering as a co-investor.
Enerpure says the financing will fund the construction of its Albert Commercial Plant and will provide working capital to advance the development of a second plant. The plant is targeted for completion and commissioning in the first half of 2028.
Rick Koshman, Enerpure’s president and CEO, called the financing “transformational.” He added, “It moves us from development into commercial deployment and, together with the ERA grant, provides the capital required to build, commission and commence operations at our first commercial recycling plant.”
The news follows a $6.2 million grant from Emissions Reduction Alberta in July 2026.
Once complete, Enerpure says its recycling plant will have an annual processing capacity of 32.6 million litres of used motor oil. The oil will be repurposed into lower-carbon marine fuels.
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