Enviva Completes Acquisition of Greenwood County Pellet Plant
Investment of $20 million to increase local biomass capacity
GREENWOOD, S.C. – Enviva Holdings, LP (“Enviva” “the Company”), the world’s largest producer of industrial wood pellets, has announced that through its joint venture, Enviva JV Development Company, LLC, it has completed the acquisition of Colombo Energy’s wood pellet production plant in Greenwood County from The Navigator Company. The company will maintain 80 jobs as part of the new investment. The acquisition will result in a new capital investment of $20 million.
Enviva owns and operates wood pellet processing plants and deep-water export terminals across five states – Virginia, North Carolina, South Carolina, Mississippi, and Florida. Their wood pellets are currently exported to power plants in the United Kingdom and Europe that previously were fueled by coal, enabling them to reduce their lifetime carbon footprint by 74 to 85 percent. Enviva plans to enter the Asian market in the very near future and have already announced that shipments are scheduled for customers in Japan later this year.
Located at 200 Colombo Drive in Greenwood, S.C., the company will be growing the facility in partnership with the Greenwood community and their sustainable supply chain that includes forest landowners.
“Enviva is very excited to welcome the Greenwood team to the Enviva family. Together, we look forward to growing this facility in partnership with the Greenwood community and our sustainable supply chain that includes forest landowners, loggers, truckers and the mechanical, and other service providers essential to keeping a world-class manufacturing operation running smoothly.” – Royal Smith, Enviva’s Executive Vice President of Operations.
“The Greenwood plant is an ideal addition to our portfolio of manufacturing and export terminal facilities, and we are excited to welcome the Greenwood team to the Enviva family. This latest investment is a testament to the strength of the global biomass market and will ensure Enviva is well positioned to meet its long-term contracted demand from customers seeking renewable energy alternatives to coal in Europe and Asia.” –- John Keppler, Chairman and Chief Executive Officer of Enviva.
“Greenwood County is a great location for wood product manufacturing, and we are excited about Enviva’s new ownership of the Greenwood Wood Pellet Plant. Their Investment and jobs within our community are greatly appreciated.” –Greenwood County Council Chairman Steve Brown
“Enviva is a successful alternative energy producer, and we are proud that Greenwood County is home to such an innovative company.” – Greenwood Partnership Alliance Chair Dr. Kristin Manske
FIVE FAST FACTS
● Enviva has completed the acquisition of the Greenwood County pellet plant.
● Enviva will make investments in the Greenwood plant to improve its operational efficiency and add additional emissions control equipment.
● Enviva exports pellets primarily to power plants in the United Kingdom and Europe that previously were fueled by coal. Asian expansion scheduled for 2018.
● Enviva is the world’s largest producer of industrial wood pellets.
● Located at 200 Colombo Drive in Greenwood, S.C., the company will be growing this facility in partnership with the Greenwood community.
About The Greenwood Partnership Alliance
The Greenwood Partnership Alliance is a non-profit organization established to promote and enhance the economic growth and development of Greenwood County. Since 1994, GPA efforts have resulted in the announcement of more than 3,451 new jobs and more than $1.6 billion in capital investment in Greenwood County, SC. To learn more, call (864) 388-1250 or visit www.PartnershipAlliance.com.