28 February 2017
700 Collip Circle, Suite 211
London, Ontario
CANADA N6G 4X8
TEL: (519) 494-7514
EMAIL: info@cometbiorefining.com
DETAILS
an industry leader in the production of
high-purity cellulosic dextrose,
today announced the completion
of a round of equity financing
led by new investor PM Equity Partner.
Current investor Sofinnova Partners and
new investor Bioindustrial Innovation Canada (BIC)
also participated in the financing.
Terms of the financing were not disclosed.
Comet's industrial technology converts
agricultural residues
into high-purity dextrose
for production of sustainable bio-chemicals.
Comet's cellulosic sugar is not only
cost- and quality-competitive
with corn or sugarcane derived products,
but importantly, it does not hamper food production
and has a superior carbon footprint, improving
the sustainability profile of the produced biochemical.
The investment will be used to
* advance the commercialization of Comet's
second-generation sugar production platform
* and fund construction of the company's
previously announced 60 million pounds per year
dextrose facility in Sarnia, Ontario.
Rich Troyer,
CEO of Comet
"We are very pleased to announce
this new round of financing,
with strong support from Sofinnova Partners
and our new investors.
The investment reflects confidence
in our low-cost, high-purity cellulosic dextrose technology
and enables us to deliver on
a key missing piece in the value chain
- a viable source of renewable sugars
from non-food biomass,"
Media Contact
Janaina Topley Lira
Sustainability Consult
jtl@sustainabilityconsult.com
+32 2 347 1101
WWW.CHEMWINFO.COM BY KHUN PHICHAI
