SunOpta Inc. (NASDAQ:STKL; TSX:SOY) announced it is exploring whether to raise US$30 million in a private equity placement for a minority position in the SunOpta BioProcess Group.
SunOpta is seeing increased interest in its BioProcess technology, which the company believes makes the production of cellulosic ethanol commercially possible. The proceeds would be used to invest in cellulosic ethanol production.
The decision to proceed with the equity financing depends on the valuation, satisfactory due diligence and the transfer of the BioProcess Group into a wholly-owned subsidiary of SunOpta.
Website: http://www.sunopta.com
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