Dutch mid-market house Waterland has invested €36m into BioMCN, a builder of bio-methanol plants.
The company’s first plant is scheduled to begin production in April, and the money raised from Waterland will allow BioMCN to start the engineering process to double capacity from 200,000 metric tons per year by 2010.
Lex Douze, principal at Waterland, said: “While the financial markets are in turmoil, strong companies invest and remain ambitious. This is Waterland’s third major all-equity investment in the past six months. We are excited by this 2nd generation biofuel project, which fits perfectly within our sustainability investment theme.”