Green Energy Resources to buy pellet mill

Biomass provider planning purchase of wood pellet manufacturer as part of domestic and international growth strategy.

12/31/2009


Green Energy Resources has announced that it isseeking to purchase the fully operational New Englandwood pellet mill. The company currently provides this mill with wood biomassused in the production of the pellets. Terms of the purchase have not been disclosedand are subject to financing. The mill has capacity to produce upwards of10,000 tons monthly and could generate approximately $24 million dollarsannually in gross revenues.

wood pellets
Image of wood pellets for use as fuel. Source: Fuel Alternative.


The pellet manufacturer is currently producingbagged pellets for the U.S.retail wood stove markets. The acquisition is seen as a potential enhancementof Green Energy's ability to meet a growing U.S. commercial demand and a verycompetitive European export market.

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- Edited by David Greenfield , editorial director
Control Engineering Sustainable Engineering
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