Comet Biorefining gets funding boost

A new bio-refining plant in Sarnia is one step closer to reality.

Comet Biorefining received a $500,000 investment from locally-based Bioindustrial Innovation Canada (BIC). The company also received investment from two separate venture capital groups to further develop planning and construction of a new plant at the TransAlta site in Sarnia.

The previously announced facility will produce 60 million pounds of high-quality dextrose per year, converted from agricultural products such as corn stalks and wheat straw. The plant, scheduled to be in operation by 2018, will bring as many as 50 new jobs to the area once completed.

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