Enviva acquires second Mississippi pellet plant
Oct. 13, 2010, Richmond, VA – Enviva has acquired a controlling interest in Tomorrow’s Energy and its Piney Woods pellet manufacturing facility.
2010, Richmond, VA – Enviva has acquired a controlling interest in Tomorrow’s
Energy and its Piney Woods pellet manufacturing facility. This strategic
investment marks the third major transaction in as many months for Enviva’s
growing biomass supply business.
Wiggins, Mississippi, Piney Woods Pellets is an alternative-fuel company
founded in 2008. The current facility has the capacity to produce about 50,000
tons/year of wood pellets. Under Enviva’s ownership, Piney Woods will be renamed
Enviva Pellets Wiggins, and the production capacity will be increased to about
150,000 tons/year over the coming months to meet increasing demand from
Enviva’s clients across Europe and the United States.
Woods is a model for a well-designed plant and is in a region with a long
forest-products tradition, strong community ties, and a deep commitment to the
environment,” Enviva chairman and CEO John Keppler says. “With this investment,
we are very excited to expand Enviva’s manufacturing footprint in Mississippi
and increase our production of sustainably generated wood pellets to help our
customers reduce their carbon footprint.”
large utilities in the United States and Europe, Enviva recently announced a
long-term wood pellet supply contract with Electrabel, a subsidiary of GDF Suez
Group, one of the largest utilities in the world. The acquisition of Piney Wood
Pellets closely follows Enviva’s acquisition of another Mississippi-based wood
pellet manufacturer, CKS Energy.