ATLANTA - E-Pellets LLC announced plans to convert a formerly shuttered Louisiana-Pacific composite panel mill in Athens, GA, to produce wood pellets for export to Europe.

According to the Atlanta Journal Constitution, E-Pellets purchased the mill, which closed in 2008, for $13 million. Company spokesman Ben Easterlin told the Atlanta Journal Constitution that E-Pellets plans to invest $110 million to upgrade and convert the OSB plant for pellet production. When completed, the facility will have a pellet production capacity of approximately 450,000 metric tons annually. 

Headquartered in Waycross, GA, E-Pellets also has offices in Atlanta, GA and New York, NY. The company's production currently consists of a wood pellet plant in Nahunta, GA, and the newly acquired Athens location. E-Pellets said it has a long-term port agreement with Georgia Kaolin Terminal, Inc.  to export up to 1.35 million metric tons per year of wood pellets through the port facility in Savannah, GA.

The company said it is exploring additional opportunities in Georgia and South Carolina. "E-Pellets is going to focus on executing its build-out program, and will evaluate developing other sites under option. We have an incredibly talented group of human resources with unparalleled know how in this sector, along with supporting capital partners, customers, vendors and suppliers and we hope to grow with all of them," CEO Doug Albrecht said in a statement.