Comet Bio announces food sustainability investment to build a manufacturing facility in Denmark
Comet Bio, a manufacturer of healthy and sustainable ingredients, announced 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.
Rich Troyer, CEO, Comet Bio: "RE Energy is a great partner and we are excited to be investing with them to build a dedicated manufacturing facility. 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.
Henrik Maimann, CEO, RE energy: "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."