Viridis Energy Signs Off-Take Deal for Wood Pellet Export to Europe

An alternative energy company, Viridis Energy and a major producer of wood pellets in British Columbia have signed a multi-year off-take contract, which is worth nearly $15.5 million.

As per the agreement, Okanagan Pellet Company, Viridis’ facility located in Kelowna, BC, will ship wood pellets of approximately 166,000 tonnes to Europe through 2014.

According to the terms of the contract, at least 22,000 tonnes of wood pellets have to be shipped in 2011 and 48,000 tonnes have to be delivered from 2012 to 2014. In the past two years, the wood pellet exports to Europe have increased twice, reaching 1.6 million tonnes in 2010.

Chris Robertson, CEO of Viridis, commented that the growing interest for renewable energy resources in the society is boosting the demand for wood pellet, the most consistent renewable biomass. He added that the contract will increase the company’s revenue from 2011 to 2014. The company is focusing to become a major source of high-quality renewable energy products and is concentrating on reliable, quality and sustainable raw materials like beetle-kill pine wood, Robertson said.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Chai, Cameron. (2019, February 09). Viridis Energy Signs Off-Take Deal for Wood Pellet Export to Europe. AZoM. Retrieved on November 23, 2024 from https://www.azom.com/news.aspx?newsID=28871.

  • MLA

    Chai, Cameron. "Viridis Energy Signs Off-Take Deal for Wood Pellet Export to Europe". AZoM. 23 November 2024. <https://www.azom.com/news.aspx?newsID=28871>.

  • Chicago

    Chai, Cameron. "Viridis Energy Signs Off-Take Deal for Wood Pellet Export to Europe". AZoM. https://www.azom.com/news.aspx?newsID=28871. (accessed November 23, 2024).

  • Harvard

    Chai, Cameron. 2019. Viridis Energy Signs Off-Take Deal for Wood Pellet Export to Europe. AZoM, viewed 23 November 2024, https://www.azom.com/news.aspx?newsID=28871.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.