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Comet Biorefining Awarded $10.9 Million SDTC Grant for Bio-Based Chemicals Plant

3/8/2016

London, Ontario - 7 March 2016 - Sustainable Development Technology Canada (SDTC) has awarded Comet Biorefining, Inc. a grant of CA$10.9 million for the construction of its first-of-a-kind advanced bio-based chemicals plant. Located in Sarnia, Ontario, the plant will use proprietary conversion technology to transform corn stover, an agricultural residue, into high-purity dextrose sugar.

SDTC supports the development of technologies which address the challenges of clean air, soil, water and climate change. As a building block for bio-based solutions - replacements for petroleum-based products - Comet's dextrose sugar will help reduce Canada's greenhouse gas emissions.

Comet's technology enables sugars to be produced cost-competitively with corn or sugarcane-derived dextrose, the conventional raw materials for today's biochemical production. Comet's facilities may be built on a small scale that enables flexibility to locate production close to biomass supplies, reducing transportation costs.

Andrew Richard, Founder of Comet, said, "This funding will support the commercialization of our feedstock-flexible technology and produce a much-needed raw material for the growing bioeconomy. By supporting Comet Biorefining, SDTC is investing in Canada's environmental goals and economic future."

"Sustainable Development Technology Canada (SDTC) is incredibly proud to support Comet Biorefining," said Leah Lawrence, President and CEO. "Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. This dextrose sugar plant is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and the world."

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