Loraxian raises $50m for global growth in infrastructure projects
Canadian renewable energy firm Loraxian has raised $50m of new investment to finance the growth of its business within its home country and across Asia and the Middle East. The funding comes from the company's new partner, Hong Kong investment firm Treasure Union. Loraxian has said it will use a significant part of the new capital to acquire key technologies currently used in its infrastructure projects.
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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