18 April 2016
Comet Biorefining is a leading provider of
sustainable, high-quality, cost-competitive
cellulosic dextrose technology
for applications in renewable biochemicals and biofuels.
Comet Biorefining operates a demonstration scale plant
in Rotondella, Italy, owned by ENEA -
the Italian National Agency for New Technologies,
Energy, and Sustainable Economic Development.
In February 2016, Comet Biorefining announced
the construction a 60 million pounds per year
commercial sugar plant to come online in 2018.
The company plans to build, own and operate
its own plants and will strategically license
its technology to select partners
on a worldwide basis
to meet the growing demand for bio-based products
DETAILS
has signed an offtake agreement
with bio-succinic acid producer BioAmber (NYSE:BIOA)
for high-purity dextrose
from Comet's planned commercial plant in Sarnia, Ontario.
The dextrose will be produced from
agricultural residues
using Comet's innovative technology.
The offtake agreement
* also includes provisions for Comet to supply dextrose
to future BioAmber manufacturing facilities
* and provides BioAmber with certain exclusive rights
in the fields of succinic acid, 1,4-butanediol (BDO)
and tetrahydrofuran (THF).
BioAmber provided an equity investment in Comet in 2015
and its CEO Jean-Francois Huc
is now joining Comet's board of directors.
Comet's technology enables
sugars to be produced competitively from biomass
versus corn or cane-derived sugars,
the benchmark raw materials
for today's biochemical production.
Comet's facilities can also be
built on a smaller scale
enabling greater flexibility to locate production closer
to biomass supplies and lower
a region's greenhouse gas footprint.
The offtake agreement is the culmination of development work
performed by Comet and BioAmber
as part of BioIndustrial Innovation Canada's
recently completed cellulosic sugar study.
Media Contact
Kathryn Sheridan
Sustainability Consult
ks@sustainabilityconsult.com
Europe: +32 496 116198
North America: (202) 470 3239
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