Vancouver, BC - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD), a "Cleantech" manufacturer and distributor of renewable energy providing biomass fuel to global residential and industrial markets, announced today that it has commenced production of wood pellets at its wholly owned subsidiary, Scotia Atlantic Biomass Company, Ltd. ("Scotia"), located in Middle Musquodoboit, Nova Scotia, with its first shipment of 25,000 sold for delivery in December. The Company began production on three of its five pellet presses in late August and expects to be running all five presses by the end of September. The Scotia facility's current annual capacity of 120,000 tons, brings Viridis' total production capacity to 180,000 tons.
The Company recently announced that it entered into an agreement with Ekman & Co AB ("Ekman"), one of the world's oldest trading houses and wholesalers of forest products, to market Scotia's entire 240,000 ton wood pellet production over a two-year period as its exclusive agent. Ekman's operations span 100 countries through 40 offices, including Europe where most of Scotia's production will be sold to utilities and industrial consumers of wood pellets.
"Our Scotia Atlantic facility is located near excellent shipping ports on the Atlantic Ocean, making it strategic to addressing the growing demand for renewable energy sources in Europe", said Christopher Robertson, Viridis' chief executive officer. "We are delighted with the quality of pellets produced at Scotia. As demand for wood pellets continues to grow dramatically and unique marketing opportunities similar to our Ekman arrangement surface, we will look for means to aggregate product offering through production expansion, as well as wholesale sources."
About Viridis Energy Inc.
Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing, Okanagan Pellet Company and Scotia Atlantic Biomass, thus providing the company with vertical integration for distribution and manufacturing as well as coast to coast national presence. For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca.
Source: Viridis Energy Inc.
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