In Canada, Comet Biorefining Inc announced the closing of a funding round led by Sofinnova Partners. Comet will use the proceeds to complete the design of its commercial facility, expand the team and continue to develop commercial partnerships.
Comet has developed a proprietary technology for the conversion of wood, wheat straw, bagasse, corn stover and similar agricultural wastes into high purity glucose syrup. Due to its high yield and short production times the process allows for smaller facilities closer to biomass sources with lower overall production costs. Comet has proven the technology at 5 dry tons per day demonstration scale and is well positioned for commercial scale.