The Cellulosic Sugar Producers Co-operative (CSPC) was pleased to be part of the AGRIS Co-operative Ltd., Annual Meeting at The Chatham-Kent John D. Bradley Convention Centre.
Jay Cunningham (left), Business Development Manager of CSPC and Andrew Richard (right), Chairman, Founder and CTO of Comet Biorefining both attended the meeting on behalf of CSPC to discuss with those interested about CSPC's unique opportunity to invest in the emerging bio economy.
CSPC continues to engage with growers in the southwestern region to supply corn stover and wheat straw to a planned dextrose facility announced by Comet Biorefining (Comet) to be located in Sarnia, Ontario. 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 55,000 acres.
Becoming a producer is open to individuals and farming corporations who can provide biomass (corn stover, wheat straw) to the co-operative and are approved member of the Co-op. It is anticipated that the great majority will initially be farmers concentrated within a one hundred (100) kilometer radius of Sarnia, Ontario.
A producer will be asked to buy subscription shares. Those subscriptions shares provide voting rights within the Co-op.
The producer will also be required to sign a producer agreement committing acres of biomass and equity investment.
The equity will be used by the Co-op to invest into the dextrose plant. The producer will receive a payment for each tonne of biomass that they supply and patronage out of the cash flow from the dextrose plant.
More pictures from AGRIS Annual Meeting:
General Manager of AGRIS Co-operative Ltd., and secretary of the CSPC Board.
A full room as the audience listens to AGRIS' past and present accomplishments and next steps for the future.
Chairman, Founder and CTO of Comet Biorefining, discusses the planned facility to be built in Sarnia, Ontario.
For more information about CSPC please contact: Brian Cofell