Green Energy Solution Industries (GESI) has reached a milestone for the funding of a $45m renewable energy plant in Canada, through a private escrow capital raise.
Under the agreement GESI made with InREFCo, the company raised the necessary capital for the waste wood-to-energy project to go ahead.
GESI was launched in 2007 and is developing the project in Alberta where there is an abundant supply of waste wood.
The company was recently awarded a grant by Alberta Energy for the development of a feasibility study for the use of waste wood, including rail ties, for the creation of electricity or biofuels.