PFI ends management agreement with HPBA

September 2, 2014, Arlington, Va. – The Pellet Fuels
Institute (PFI) announced today that it is changing its long-standing relationship
with the Hearth, Patio & Barbecue Association (HPBA) in order to better
provide the level of services required by its diversifying membership.

PFI is a North American trade organization serving
manufacturers and other related affiliates involved in the densification of
biomass for renewable energy and natural industrial applications. The
association was previously managed by HPBA under a long-term agreement that
included member reciprocity. Though PFI will now operate independently, the two
organizations look forward to continuing to collaborate in areas of mutual
interest and benefit.

“We are excited at the possibilities for growing our
programs independently, which will enable us to better serve the densified
biomass industry in the United States and Canada,” said Jennifer Hedrick,
Executive Director of Pellet Fuels Institute. “We appreciate the leadership of
our Board and support of our members as we make this transition. After a long
and productive relationship with the Hearth, Patio & Barbecue Association,
we look forward to continuing our close collaboration.”

Jack Goldman, President & CEO of HPBA, issued a
statement on a continued partnership between the two groups, saying, “HPBA
looks forward to working with PFI in a new relationship. We welcome a continued
PFI presence at the annual HPBExpo and other HPBA events to ensure that we
expand on the natural connection that our associations have built upon for many
years.”

PFI has made significant changes to its bylaws to expand its
membership base. The relationship change with HPBA will enable the association
to pursue new goals in this area.

“The new arrangement will give us greater flexibility to
address our members’ needs as we work to expand the scope of the organization,”
said Darryl Rose, newly elected Chairman of the Pellet Fuels Institute. “As an
industry we are well-positioned to capitalize on future business opportunities
that stretch beyond the residential heating market. Our members’ business
operations are changing and the association is focusing on expanding its
strategic plan to address the needs of the densified biomass industry and to
pursue the development of additional markets. We look forward to announcing
further developments in this regard in the months to come.”

The Pellet Fuels Institute’s leadership announced these
changes to attendees last month at the association’s annual conference and
membership meeting held in Orlando, Florida. PFI’s headquarters will remain in
Arlington, Va., allowing for convenient access to Capitol Hill, federal
agencies, and the association’s many other government and industry partners
based in and around Washington, D.C.