Viridis Energy's merchant subsidiary announces first European supply agreement

Viridis Energy says that its wholly owned subsidiary, Viridis Merchants (VMI) – an aggregation and trading business – has secured a European supply agreement for up to 20,000 tonnes of ENplus certified premium wood pellets per year.

VMI intends to distribute to the residential heating market throughout the UK and Europe. The agreement marks VMI's first European supply and is expected to generate over €4 million per year.

The supply of certified pellets is marketed under the new Okanagan Nordics brand, which is the fourth brand in the Okanagan wood pellet family. VMI has already begun distributing the new brand to the residential heating market in the UK and plans to distribute to Italy and other European countries.

'This contract marks the expansion of Viridis Merchants into Europe, where we intend to replicate the successful business model that we have executed in North America,' says Christopher Robertson, CEO.

ENplus is the certification identification for solid biomass fuels in Europe. The standard for wood pellets (EN 14961-2) includes a strict quality of A1 and A2 wood pellets. The ENplus certificate not only fulfils the EN 14961-2 provisions, but stands for low emissions and trouble-free heating with high-energy value. ENplus A1 is the highest quality of residential pellets.