Comet Bio Announces Investment in Sustainable Food Manufacturing Facility
LONDON, ON, Dec. 7, 2021 /CNW/ -- Comet Bio, a manufacturer of healthy and sustainable ingredients, announced today an investment with RE Energy to build a dedicated manufacturing facility in Denmark. RE Energy, a REE Holding company, will upgrade and expand its existing facility in Kalundborg to supply over 4 million kilograms of Comet Bio's Arrabina prebiotic fiber per year. RE Energy will as well operate the new facility under supervision of Comet Bio.
Based in Ontario, Canada, and Illinois, USA, Comet Bio uses its patented upcycling technology to produce innovative ingredients from crop leftovers. Comet Bio recently completed a $25 million Series C financing and will use some of those proceeds for this investment. Its Arrabina Arabinoxylan Plant Fiber Extract is a premium prebiotic dietary fiber with superior tolerability and functionality. Arrabina is clinically proven to promote growth of beneficial bacteria in the gut, help maintain healthy blood glucose levels, and support immunity.
Comet Bio can extract the prebiotic arabinoxylan for its Arrabina from a variety of sources such as wheat straw, brewer's grains, corn stover and pea husks. The RE Energy facility will partner with Danish farmers to source local wheat straw for Arrabina production. The partnership will benefit the farmers by fully utilizing their whole harvest, providing a new revenue stream while also improving the circularity of the food chain.
"RE Energy is a great partner and we are excited to be investing with them to build a dedicated manufacturing facility," said Comet Bio CEO Rich Troyer. "This partnership will allow us to serve our customers' needs for a prebiotic fiber that is fully soluble and easy to add to nutrition bars, baked goods, beverages or any other format that consumers go to for gut health benefits."
RE Energy's facility is part of the larger Kalundborg Eco Industrial Park (Kalundborg Symbiosis); an industrial network of private and public companies located in Kalundborg, Denmark. The Park applies a circular approach to production, in which one manufacturer's residual output provides resources to another. The RE Energy facility uses renewable power and this investment will enable ultra-low-carbon production of the Arrabina as well as the existing production of advanced biofuel and lignin.
"We have great expectations that we, through the cooperation with Comet Bio, will be able to create and operate an innovative and sustainable manufacturing facility for this exciting new product," says Henrik Maimann, CEO of RE energy.
To learn more about Comet Bio, its proprietary technology, and its award-winning ingredients, visit http://comet-bio.com/.
About Comet Bio
Comet Bio is an award-winning food technology company based in London, Ontario, and Schaumburg, Illinois. The company makes unique, healthy, and sustainable products using its patented upcycling technology. Its Arrabina Arabinoxylan Plant Fiber Extract is a premium prebiotic dietary fiber with superior tolerability and functionality. The company's line of Sweeterra syrups is a sustainable and lower sugar alternative to traditional sweeteners with no trade-offs in terms of taste and performance.
For more information, visit http://comet-bio.com/ and follow us on Twitter at @cometbio.
About RE Energy
RE Energy is a fully owned subsidiary of REE Holding and was established in 2020 with the purpose of bringing the Kalundborg biorefinery back in operation to serve existing and new markets for environmentally sustainable manufacturing. The biorefinery was "first of its kind" able to produce advanced biofuel from straw (2G ethanol). RE Energy is refurbishing and bringing the facility back to life to serve the growing demand for cleaner manufacturing of food and feed ingredients and biomaterials for industrial applications.
Media Contact:
Hannah Ackermann
Communications Manager at Comet Bio
[email protected]
317-750-7158
SOURCE Comet Bio
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