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Apr 13, 2021
Drax completes acquisition of Pinnacle
Pellets News
Apr 12, 2021
Developing bioenergy with carbon capture and storage (BECCS) at Drax could save the UK energy system and consumers billions of pounds over the next decade, according to a new report. The independent analysis by energy consultancy Baringa, commissioned by Drax Group, evaluates the impact of deploying BECCS at scale as part of achieving the UK’s climate change targets. The... [Read More]

Pellets News
Apr 9, 2021
Construction is underway on a 112 MW thermal biomass power plant in Japan’s Miyagi Prefecture. Sumitomo Corporation, together with Sumitomo Corporation Tohoku, has commenced construction of the plant in Sendai City. The facility will be located on an industrial site on Sendai Shiogama Port premises, located in Miyagino-ku. With a generation capacity of 112 MW,... [Read More]

Pellets News
Apr 7, 2021
Pinnacle Renewable Energy has obtained a final order from the Supreme Court of British Columbia, approving its planned takeover by Drax Group. The arrangement, announced earlier this year, will see Drax’s wholly-owned subsidiary, Drax Canadian Holdings, acquire all outstanding shares of Pinnacle for $11.30 (€7.54) in cash per share. In a statement, Pinnacle confirmed... [Read More]

Pellets News
Apr 1, 2021
Pinnacle Renewable Energy has received shareholder approval for the planned takeover by Drax Group. A meeting on 31 March saw an ‘overwhelming majority’ of Pinnacle shareholders vote in favour of the arrangement, through Drax’s wholly-owned subsidiary, Drax Canadian Holdings. The arrangement will see Drax’s Canadian business acquire all of the issued and... [Read More]

Pellets News
Mar 31, 2021
Enviva has partnered with Mitsui O.S.K Lines (MOL), a global marine transport group, to develop and deploy an environmentally friendly bulk carrier. Under the memorandum of understanding agreement, the firms will aim to reduce greenhouse gas (GHG) emissions in the ocean transportation of sustainable wood pellets. In the initial stage, the partnership will explore... [Read More]

Pellets News
Mar 29, 2021
USTC has acquired 60% of CM Biomass, a major independent wood pellet trading company. USTC, which has a long history in commodity trade, shipping, and logistics, acquired the stake of CM Biomass, a company within the Copenhagen Merchants Group. The remaining 40% will be held by the existing owners. CM Biomass will form a new, separate entity in the USTC portfolio... [Read More]

Pellets News
Mar 15, 2021
The Southern Environmental Law Center (SELC) has sued to stop Active Energy Renewable Power and Lumberton Energy Holdings, subsidiaries of Active Energy Group (AEG) from illegally polluting the Lumber River in violation of the Clean Water Act. The complaint filed by the conservation groups on 10 March in the US District Court for the Eastern District of North Carolina... [Read More]

Pellets News
Mar 8, 2021
Magazyn Biomasa, publisher of the ‘Pellet Market’ and organiser of the Pellet Forum conference, is preparing the first comprehensive publication in Poland on the domestic pellet sector. The ‘Wood pellet in Poland’ report will be released in April. The scope of the study will cover a wide range of aspects related to the industry: pellet emissivity compared to... [Read More]

Pellets News
Mar 4, 2021
The Fort Nelson First Nation (FNFN) has hit back against claims that wood pellet facility plans would be harmful to the environment. A Canadian Centre for Policy Alternatives report criticised the project, for which FNFN has partnered with Peak Renewables, suggesting that ‘forest exploitation plans are back on the front burner’. FNFN fought back, stating that... [Read More]

Pellets News
Mar 1, 2021
Drax is to kick-start the planning process for its proposals to build bioenergy with carbon capture and storage (BECCS) technology in the UK, marking a major milestone in the project. The firm has already transformed its power station near Selby in North Yorkshire to become the largest decarbonisation project in Europe, having converted it to use sustainable biomass... [Read More]

Pellets News
Mar 1, 2021
Enviva has reported its financial and operating results for the fourth quarter and full year of 2020. For Q4 2020, the company generated a net revenue of $277.3 million (€230 million), compared to $200.5 million (€166.4 million) for the same period in 2019. For the whole of 2020, Enviva generated a net revenue of $875.1 million (€726.4 million), compared to... [Read More]

Pellets News
Feb 26, 2021
Pinnacle Renewable Energy announced its financial results for the fourth quarter of 2020, reporting a 27.8% revenue increase compared to the same period in 2019. Revenue in Q4 2020 was $116.9 million (€76.3 million), up by $25.4 million (€16.5 million) on Q4 2019. The company’s net loss was $2.5 million (€1.6 million) in Q4 2020 compared to $3.1 million (€2... [Read More]

Pellets News
Feb 25, 2021
Drax Group has announced its 2020 results, reporting a 7% increase in pellet production and a further £2 million (€2.3 million) in adjusted EBITDA compared to 2019. The company’s adjusted EBITDA from continuing and discontinued operations increased by £2 million (€2.3 million) to £412 million (€477 million), including the £60 million (€69 million) impact... [Read More]

Pellets News
Feb 22, 2021
Mississippi regulators have fined a wood pellet production facility owned by Drax $2.5 million (€2.06 million) for breaking environmental rules. The Amite wood pellet facility is located in south-western Mississippi in the town of Gloster. Commissioned in August 2015, the plant sits on 62 acres of land and has around 60 employees. The facility can produce up to 525,000... [Read More]

Pellets News
Feb 18, 2021
Portuguese firm Futerra Torrefaçao e Tecnologia (Futerra Fuels) has commenced production of white and torrefied pellets at its new facility. The plant in Valongo, near Porto, includes six torrefaction lines delivered by Yilkins, which are embedded in the broader plant set-up developed by Futerra Fuels. The facility can switch production from regular white wood pellets... [Read More]


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