The $79.8-million facility will be the first of its kind in the world. Comet Biorefining uses proprietary ingredient technology to convert of agricultural residues, including wheat straw, corn stover and wood products, into high purity ingredients. The ingredients are used in the food and beverage, animal nutrition and biomaterials markets.
According to a government news release, the provincial funding through the Jobs and Prosperity Fund will help Comet:
- Grow the agri-based value chain and benefit local farmers by using residues from Ontario's farming community
- Grow the emerging biochemical bioproduct ecosystem in Sarnia, while further establishing Ontario as a global player in the bioeconomy
- Help meet the growing world demand for bio-based products.
CEO of Comet Biorefining Rich Troyer thanked the Ontario Ministry of Agriculture, Food and Rural Affairs for their financial support and touted their leadership in making Canada a global front-runner for the manufacturing of bio-based products.
"Once completed, this facility will produce sustainable ingredients for customers across North American and provide a win for local farmers, a win for the environment, and a win for the Canadian bioeconomy as a whole," he said.