The Cellulosic Sugar Producers Co-operative (CSPC) kicked off their membership drive for 2016-17 with 4 town hall meetings last week on Tuesday, December 13 in Wyoming and Dresden and Thursday December, 15 in Strathroy and Warwick. The aim of the meetings was to reach out to any who missed the Corn Stover Baling Demonstrations in November and to attract farmers who will provide corn stalks and wheat straw for Comet Biorefining’s planned facility in Sarnia, which will turn the biomass into high quality dextrose sugar.
Despite some adverse weather conditions, the meetings were a success. Farmers showed great interest in learning more about the emerging co-operative in the southwestern Ontario region. The two hour meetings provided farmers with more information about CSPC as well as their partner Comet Biorefining. All farmers who were interested received an ‘Offering Statement’ which discusses the terms of the CSPC investment in greater detail.
As part of the supply chain, CSPC members will own an equity stake in the facility, which will need 75,000 tonnes of biomass based on about 22,250 hectares (55,000 acres).
Andrew Richard, Founder and CTO of Comet Biorefining stated, “It was great to see the turnout and interest from producers. Our partnership with CSPC is extremely important to Comet, and we look forward to continuing to support their equity campaign as it continues."
Jay Cunningham, Business Development Manager of CSPC, noted, “The town hall meetings were an excellent opportunity for the Co-Op to introduce its offering to many new producers while at the same time answering questions about this exciting new opportunity. I look forward to signing up the new members that these meetings and our on-going activity is generating.”
CSPC is an Ontario-based farmer’s co-operative that strives to develop new markets for crop residue materials and new business opportunities. By extracting cellulosic sugars from crop residues, farmers can explore new markets without having to compete for land. CSPC wants to establish a market in Ontario that puts a value on corn stover that will generate higher profits per hectare. For more information, visit http://www.cspcoop.com.
About Comet Biorefining:
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 of a 27.2 million kilograms (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.