Scotia Atlantic Biomass Company, Ltd., a wholly owned subsidiary of Viridis Energy Inc., announced that it has entered into an agreement with Ekman & Co AB., a wholesaler of forest products. Ekman will serve as Scotia's exclusive worldwide agent to market its entire wood pellet production. The agreement covers an initial period of 24 months and an aggregate projected wood pellet production of up to 240,000 metric tons.
Viridis, an alternative energy company specializing in agricultural and wood waste biomass, purchased Scotia, one of largest wood pellet manufacturers in Canada, in 2012. Scotia's production is expected to begin this month after several months of refurbishing and calibrating operations.
“The re-opening of the Scotia operations is a significant accomplishment towards achieving our goal of 1,000,000 metric ton capacity,” said Christopher Robertson, Viridis Energy's CEO. “We received outstanding cooperation and support from local Nova Scotia authorities and vendors to reach this point. Partnering with one of the world's foremost forestry industry experts for the off-take production of our Scotia operations has given us a high level of confidence in the growth prospects of the wood pellet market. Ekman has built an excellent reputation over its 210 year history as a 'go to' service provider and authority in the paper and pulp industries. We look forward to building a mutually beneficial relationship with such a value-added partner.”
Ekman, founded in 1802 and based in Gothenburg, Sweden, specializes in all facets of the supply chain of forest related products, including sales, distribution, infrastructure support and financial services, such as insurance, trade financing, credit and interest rate risk and currency hedging.
“Ekman prides itself for being able to identify opportunities in shifting global market conditions,” said Jan Svensson, Ekman Group's CEO. “Our focus on forest products has provided us with a dynamic medium through which we can react to evolutionary trends and use our organizational skills to add value to the supply chain. Working with seasoned, wood pellet professionals like Viridis is a natural progression for Ekman to further pioneer forest products as a sustainable, renewable resource.”
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