Drax Group has begun construction on the second of three satellite pellet plants in Arkansas. Located in Russellville, Pope County, the new facility is part of a $40 million project and is expected to be operational in 2022.
Drax Group announced plans to acquire a 20 percent minority interest in Alabama Pellets LLC for $29.7 million cash consideration in a deal with The Westervelt Co. The deal is expected to be finalized by the end of July and will increase Drax's interest in Alabama Pellets to 90 percent.
Europe’s demand for wood pellet is expected to increase by 30 to 40 percent over the next five years, according to a new report released by Wood Resources International (WRI).
Highland Pellets said the partnership with Orion Energy Partners will help fund the expansion and upgrade of its wood pellet facility in Pine Bluff, Arkansas, and provide capital for long-term growth initiatives.
Wood pellet producer Drax Biomass has acquired Louisiana Pellets with a winning auction bid of $35.4 million. The auction for the bankrupt Louisiana pellet manufacturer culminated on March 30.
Okanagan Pellet Co. plant will cease operations at its West Kelowna, British Columbia, facility Despite substantial upgrades already underway, owner Viridis cited structural concerns, new storage and wood dust management requirements and other costs in the decision.
Lumber firm Resolute Forest Products Canada Inc. pleaded guilty and has been fined $150,000 after a worker was burned following an explosion of wood dust in a biomass boiler.
Biofuel producer Enviva Partners LP has acquired a fully-contracted Southampton County, Virginia plant for $131 million. Acquired from Enviva's sponsor’s joint venture with affiliates of John Hancock Life Insurance Co., the Southampton plant has an annual pellet production capacity of 510,000 metric tons.