Renewables, infrastructure firm Loraxian raises USD 50m

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November 8 (Renewables Now) - Canadian renewable energy and infrastructure company Loraxian Inc has closed a USD-50-million (EUR 43.1m) series B funding round with Treasure Union Ltd of Hong Kong, a new partner.

Loraxian will use the funds for global growth, focusing initially on Canada, Asia, and the Middle East, it said last week. A significant part of the proceeds will be spent to "strategically" acquire key technologies currently used in the company's infrastructure projects.

The Canadian company says it takes a systematic approach to all phases of the life of an infrastructure asset. It develops, builds, finances, procures, operates, maintains and owns building and energy infrastructure assets with a focus on southeast Asia and North America.

"We also look forward to expanding our ­­relationship with Treasure Union as they support us in funding the growth in global projects in addition to this initial investment," said Loraxian founder and chief executive Roland Kielbasiewicz.

(USD 1 = EUR 0.863)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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