Comet Biorefining scores investment round for cellulosic sugars plant

In Canada, Comet Biorefining has successfully closed an investment round to fund its proposed cellulosic sugar production facility using stover and wheat straw as feedstock. PM Equity Parnership, the corporate venture and private equity investment arm of Philip Morris International, led the financing round that was also joined by Bioindustrial Innovation Canada (BIC) and Sofinnova Partners. The investment brings the company closer to its goal of having its 60 million pound per year facility online next year as planned.