The Cellulosic Sugar Producers Cooperative participated in the London Farm Show this past week. 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 (Jay Cunningham, Dave Park and Jim Maw) discussed the partnership that 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, who also participated along side the Co-op, 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 attending the upcoming Grain Farmers of Ontario March Classic Meeting on March 21, 2017 in Guelph Ontario.
Source: CSPC