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)