Comet Biorefining raises funding in PM Equity Partner-led round
Cellulosic dextrose producer Comet Biorefining Inc has closed a follow-on equity financing. The undisclosed round was led by PM Equity Partner, the investment arm of Philip Morris International Inc. It was joined by Sofinnova Partners, which led the company's 2015 round, and Bioindustrial Innovation Canada. London, Ontario-based Comet develops industrial technology that converts agricultural residues into high-purity dextrose for the production of bio-chemicals. It said the funds raised will be used to advance commercialization of a second-generation dextrose plant and to construct an existing facility in Sarnia, Ontario.
2 March 2017•4 mins read
