Transactions
Selkirk advises Convertus on project financing for York Biofuel waste-to-energy project in Ontario
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce the closing of a $135 million construction-to-term project financing for the York Biofuel waste-to-energy project in East Gwillimbury, Ontario (the “Project”). The Project is owned and will be operated by Convertus Group (“Convertus”).
The state-of-the-art facility is designed to process up to 200,000 tonnes of source-separated organic waste annually and is expected to produce between 350,000 and 400,000 gigajoules of renewable natural gas (“RNG”) each year. In addition to RNG, the Project will produce low-carbon liquid fertilizer and food-grade liquefied carbon dioxide, creating multiple high-value, low-carbon products from a single waste stream while maximizing resource recovery.
Selkirk acted as financial advisor to Convertus for the financing. Following closing, Selkirk is acting as administrative and collateral agent for the lenders.
“Closing this financing marks a major milestone for Convertus and reflects the confidence our lending partners have in our long-term strategy and our ability to deliver,” said Jamie Jongsma, Chief Financial Officer of Convertus Group. “Selkirk Advisory Group was an exceptional partner throughout this process, providing strategic guidance that helped us successfully reach this milestone. This financing allows us to bring one of North America’s most advanced organic waste-to-biofuel facilities into operation, transforming organic waste into renewable natural gas, low-carbon fertilizer, and food-grade liquefied CO₂ while advancing the transition to a more circular, low-carbon economy.”
“The Selkirk team is delighted to have supported Convertus on financing for its flagship waste-to-energy project” said Daniel Doubilet, Managing Partner of Selkirk. “This unique project will provide essential infrastructure for York Region and other municipalities and waste generators in the Greater Toronto Area. Selkirk is very pleased to have had a role in helping this impressive project reach this important milestone. We greatly appreciate the trust of the Convertus team and collaboration of the lenders. We look forward to continuing to support the parties through the life of the financing.”
