Calgary, Alberta, Aug. 20, 2026 (GLOBE NEWSWIRE) -- EnerPure Inc. (“EnerPure” or the “Company”), a clean-technology industrial company that recycles used motor oil (“UMO”) producing lower-carbon intensity marine fuels, is pleased to announce that it has closed a US$35 million (approximately C$48 million) all-equity commercialization financing led by Rice Investment Group, with Canada Growth Fund Inc. participating as co-investor. The financing will support the development of EnerPure’s first commercial UMO recycling plant, the Alberta Commercial Plant, and the advancement of the Company’s broader North American deployment pipeline. EnerPure also previously announced a C$6.2 million grant from Emissions Reduction Alberta (“ERA”) on July 20, 2026, which is separate from and not otherwise included in the US$35 million financing.
“Closing this financing is a transformational milestone for EnerPure. It moves us from development into commercial deployment and, together with the ERA grant, provides the capital required to build, commission and commence operations at our first commercial recycling plant,” said Rick Koshman, President and Chief Executive Officer of EnerPure. “We are pleased to welcome Rice Investment Group and Canada Growth Fund as co-lead investors. In addition to their capital, they bring deep energy, investment, operational and commercialization expertise that will be highly valuable as we move immediately into execution of the Alberta Commercial Plant and advance our broader North American deployment pipeline.”
The proceeds of the US$35 million financing will be used to fund the development and construction of the Alberta Commercial Plant, including non-recurring engineering costs, repay certain debt obligations, provide working capital and advance the development of a second commercial plant. ATB Capital Markets Corp. acted as EnerPure’s financial advisor in connection with the capital raise.
EnerPure has spent the past several months preparing for commercial execution and has its development and commercialization team in place. The Alberta Commercial Plant is targeted for completion and commissioning in the first half of 2028. EnerPure expects the plant to achieve nameplate capacity within the first quarter of operations.
“On behalf of EnerPure, I would also like to recognize Todd Habicht for his vision, longstanding service and unwavering commitment to the Company,” added Koshman. “Todd recognized the potential of EnerPure’s technology and the importance of addressing the global challenge created by inadequate used motor oil recycling long before the Company reached this milestone. His leadership, persistence and contributions have been instrumental in bringing EnerPure to commercial deployment. As he transitions from his roles as Chairman and Director, I am very pleased that we will continue to benefit from his experience and institutional knowledge in his new roles as Chairman Emeritus and Senior Executive Advisor.”
Effective immediately following closing, Ryan Kanto and Andrea Decore joined EnerPure’s Board of Directors alongside Rick Koshman, John Cooper and Robert Peterson. Albert Krahn, Paul Paradis and Rachel Carroll stepped down from the Board in connection with the commercialization financing.
"On behalf of EnerPure, I thank our shareholders for their support and approval of the matters required to move the Company into commercialization,” said Todd Habicht, Founder, Chairman Emeritus and Senior Executive Advisor of EnerPure. “I also sincerely thank Albert Krahn, Paul Paradis and Rachel Carroll for their outstanding service. Their wisdom, guidance and expertise have been invaluable to me and to EnerPure’s success. I am deeply grateful for their contributions, as I am for those of the many current and former employees and Directors, with whom I have had the privilege of working, whose dedication has helped build EnerPure and bring the Company to this important milestone.”
About Canada Growth FundCanada Growth Fund Inc. (“CGF”) is a C$15 billion independent investment vehicle designed to attract private capital to build Canada’s clean economy. It uses investment instruments that absorb certain risks to catalyze private investment in low-carbon projects, technologies, businesses, and supply chains.
About Canada Growth Fund Investment Management In Budget 2023, the Government of Canada appointed PSP Investments, through a wholly owned subsidiary, to act as the asset manager for CGF. CGFIM serves as the independent and exclusive asset manager for CGF.
About Rice Investment GroupRice Investment Group (“RIG”) is a multi-strategy investment fund backed by the Rice family that invests across the energy sector. RIG’s experience and capital base are rooted in the Rice family’s history in the Appalachian shale natural-gas industry, including the founding and development of Rice Energy and Rice Midstream into significant natural-gas production and infrastructure businesses. Rice Energy was acquired by EQT Corporation in 2017, and RIG now applies the Rice family’s investment, technical, operational and strategic experience to traditional and emerging energy businesses.
About EnerPure - https://enerpure.tech EnerPure Inc. is a Canadian clean-technology industrial company that recycles UMO producing lower-carbon intensity marine fuels. Through its proprietary technology, EnerPure provides a repeatable modular solution for recovering value from UMO while producing high-quality fuels for the marine market.
Disclosure and CautionThis press release may contain certain disclosures that may constitute "forward-looking statements" within the meaning of Canadian securities legislation. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors, including but not limited to economic, capital expenditures, and engineering projections, that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
