BioPower acquires Canadian pellet plant
BioPower Sustainable Energy Corporation (BioPower) has announced the acquisition of the assets of the former Rentech pellet plant in Atikokan, Ontario.
According to a statement, the agreement was made in December 2017, with BioPower’s acquisition of Rentech’s assets completed in January 2018.
Rentech Atikokan manufactures commercial grade wood pellets for the Ontario Power Generation (OPG) station near Atikokan. BioPower is a subsidiary of Ontario headquartered True North Timber.
“The acquisition of the Rentech Atikokan plant assets complements our existing presence in sustainable woodland operations and represents a strategic opportunity to extend into new emerging markets,” said BioPower CEO, Mark Guillemette.
“We have a strong management team that is committed to producing clean, innovative and sustainable energy solutions for customers in North America and around the world. Our immediate focus is on new business development to achieve the plant’s 110,000 metric tonnes production capacity.”
BioPower will sell commercial pellets, as well as residential heating pellets. 25 local jobs have been maintained following the acquisition.