Wood pellet vision for Rentech’s new acquisition
US-headquartered biomass supplier Rentech has acquired Fulghum Fibres in Georgia to extend its wood pellet portfolio.
The purchase means Rentech can now convert two mothballed facilities in Canada into pellet mills along with contracts with Drax Power and Ontario Power Generation for the sale and delivery of over four million tonnes of product overt 10 years.
‘This will launch us into the wood fibre and pellet supply business, with immediate cash flow and growth opportunities, and allow us to take advantage of our fibre relationship in the province of Ontario,’ D. Hunt Ramsbottom, Rentech CEO, was quoted as saying.
An agreement between Rentech and the Port of Quebec has also been signed to ensure terminalling and warehousing services are in place.