Enerkem, a waste-to-biofuels and chemicals company, has secured $60m loan to support large roll-out of current and future planned projects.

The new investment was provided by existing investors Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle Capital along with its newest member Valero Energy.

Valero and Enerkem have also agreed to undertake commercial opportunities.

Valero Energy has made investments in ten other ethanol plants throughout the US.

The company also received a $130m loan from the US Department of Agriculture and Department of Energy for a plant in Mississippi, which is expected to break ground this year.

Construction is already underway on a ten million gallon per year waste-to-biofuels facility in Edmonton, Canada.

Valero Energy is a manufacturer and marketer of transportation fuels, other petrochemical products and power.

US based Waste Management is a provider of comprehensive waste management services in North America.