Cellulosic ethanol maker SunOpta has received a $30 million investment from international financing firm BlackRock. More details of the plan issuing non-dividend bearing, convertible preferred shares was announced in a company press release:

Murray Burke, President of SunOpta BioProcess Inc. commented, “This financing represents a strong endorsement of our technology and leadership position in cellulosic ethanol. Proceeds will be used to continue development of our leading edge and patented biomass conversion technologies and accelerate efforts to build and operate the world’s first commercial scale facility for the conversion of cellulosic biomass to ethanol.”

Steve Bromley, President and Chief Executive Officer of SunOpta Inc. commented, “We are extremely pleased to have completed this financing and are confident that this positions SunOpta BioProcess Inc. for an exceptionally exciting and prosperous future. SunOpta has been involved in specialized cellulosic biomass solutions for over thirty years, and this represents yet another exciting step in the development of our company.”