Many producers stopped by the CSPC booth to learn about the new opportunity for farmers to invest in the emerging bioeconomy. Members of the Co-op from left (Dave Park , Andrew Richard and Jay Cunningham) discussed the partnership they have with Comet Biorefining to build a facility in Sarnia that will turn biomass (corn stover or wheat straw) into high quality dextrose sugar for bio-based chemical applications.
Comet Founder Andrew Richard, commented, “We are extremely fortunate to count CSPC as our key partner as we develop together the value chain for cost-competitive, high-purity dextrose from sustainably harvested biomass.”
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).
A producer within a 125 km radius from Sarnia will be asked to make an investment in the Co-op and to enter into an agreement committing acres of biomass. 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 supplied, as well as patronage out of the cash flow from the dextrose plant.
CSPC continues to cover as many events as possible to increase awareness during this membership drive. The Co-op will be hosting two upcoming producer meetings on:
March 24, 2017: 38631 Mill Rd at Hill and Hill Farms Ltd., in Varna Ontario from 1:30pm - 3:00pm
& March 28, 2017: 6915 Colonel Talbot Rd at Advantage Farm Equipment in London Ontario from 10:00am - 11:30am
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.
Bioindustrial Innovation Canada (BIC) is a nationally focused not-for-profit organization based in Sarnia, Ontario. The Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) acts as a hub for the commercialization of sustainable chemistry and bio-based innovation, providing businesses and technical support to participating small- and medium-sized enterprises (SMEs) in southern Ontario. COMM SCI was established with support from the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) Investing in Regional Diversification initiative with additional support from The Government of Ontario Ministry of Research, Innovation and Science. Bioindustrial Innovation Canada creates jobs and economic value sustainably for Canada. We provide critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. Our expertise in commercialization builds a stronger Canada.