Bennett Jones is advising Andion Global Inc. as it secured $270 million in new financing to expand its operations and deployment of waste processing plants to upcycle organic waste and create renewable energy.
$20 million in multi-partner financing—from Spring Lane Capital, Equitix Infrastructure Investments Limited and Business Development Bank of Canada—will be used initially to expand Andion’s operations and to acquire equity stakes in existing projects, and to accelerate the development of Andion’s projects located in North America, Italy and the Nordics.
$250 million in project development equity facility will be allocated concurrently by Spring Lane Capital and Equitix, and used to finance the development, construction and acquisition of projects in Andion’s North American and European markets.
The Bennett Jones team on the financing was led by Jonathan McCullough and included Bosa Kosoric, Elias Notopoulos, Larissa Sakumoto (Corporate), David Little, Charlene Hiller, Jade Scrymgeour, Ann Madden (Capital Projects) and Sharon Singh (Regulatory).