Ontario is partnering with Comet Biorefining, to create a new production plant in Sarnia for high-quality, sustainable ingredients that will help to directly create 82 new jobs and 158 new indirect jobs, including those in harvesting, construction, farming and manufacturing.
Comet Biorefining produces sustainable, high-quality ingredients for the food and beverage, animal nutrition and biomaterials markets. The company’s proprietary ingredient technology allows for the conversion of agricultural residues, such as wheat straw, corn stover and wood products, into high purity ingredients.
The investment though Ontario’s Jobs and Prosperity Fund will help Comet Biorefining create a new commercial scale facility to:
- Grow the agri-based value chain and benefit local farmers by using residues from Ontario’s farming community
- Grow the emerging biochemical bioproduct ecosystem in Sarnia, while further establishing Ontario as a global player in the bioeconomy
- Help meet the growing world demand for bio-based products.
Supporting a strong and innovative biochemical sector is part of the government’s plan to support care, create opportunity and make life more affordable during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and free preschool child care from 2 ½ to kindergarten.
- Ontario is investing up to $8 million in Comet Biorefining’s $79.8 million bio-based ingredient project through its Jobs and Prosperity Fund – Food and Beverage Growth Fund. The investment will help to establish the world’s first commercial-scale bio-based ingredient refinery in Ontario. The project also supports the transition to a low-carbon economy.
- As part of the Jobs and Prosperity Fund, the Food and Beverage Growth Fund supports food, beverage and bio-product manufacturing projects that help create and retain jobs, increase domestic and export market access and enhance innovation and productivity.
- Since January 2013, Ontario has committed over $950 million in projects administered under JPF, leveraging over $12 billion in total investment. This is helping to create and retain approximately 55,000 jobs.
- Ontario is home to Canada’s largest food processing sector, accounting for more than 4,000 businesses locations that employ almost 94,500 people across the province.