Viridis Energy Secures 2nd Transaction of 12,000 Tons of Pellets
March 20, 2014 | 6:50 pm UTC

Vancouver, BC - Viridis Energy Inc. ("Viridis" or the "Company") CA:VRD +4.55% , a "Cleantech" manufacturer and distributor of renewable energy providing waste biomass fuel to global residential and industrial markets, announced today that its recently launched, wholly owned subsidiary, Viridis Merchants Inc., an aggregation and trading service of wood pellets and other alternative energy sources has structured its second transaction, securing 12,000 tons of wood pellets from a producer located in the Southeast U.S. This transaction is expected to generate over $2.5 million in revenues over the 12-month period beginning April 1, 2014.

The wood pellets are to be supplied in equal monthly deliveries over the next 12 months to customers in the U.S. northeast market. In addition to arranging the transaction, Viridis Merchants is providing value-add services including logistics and marketing to the producer.

Commenting on Viridis Merchant's latest transaction, Christopher Robertson, Viridis' CEO said, "While much focus has been placed on our international and industrial opportunities, we have developed a large and loyal customer base in domestic home heating in the US northeast, which has experienced double digit growth. The severe winter conditions experienced this year have escalated interest in economically efficient, home heating solutions. Our recently launched Viridis Merchants has been instrumental in supplementing our production capacity with similarly high quality products, adding thus far over 60,000 tons of additional wood pellets to our overall product offering."

Source: Viridis Energy Inc.

Have something to say? Share your thoughts with us in the comments below.