VANCOUVER, BC - Viridis Energy Inc., a manufacturer and distributor of wood pellets, reported an operational loss of $561,000 on revenues of $2.3 million for the first quarter ended March 31.

Viridis Energy Cuts Q1 Loss by 31.4%This represents a 31.4% improvement from the same period a year ago when Viridis posted a loss of $818,000 on $2.4 million in revenues. Approximately $192,000 of the company's Q1 expenses are related to its general administrative costs of restarting the aquired Scotia Atlantic Biomass plant

Christopher Robertson, chairman and CEO of Viridis pointed to increased utilization of production capacity, improved market conditions and higher market prices for wood pellets contributed to the company's improved bottom line.

Last month, Viridis secured financing to re-start wood pellet operations in Nova Scotia.