Enviva has announced its financial and operating results for the third quarter of 2021, highlighting a net revenue increase of 5.2% and progress at several of its new production sites.
Construction of the Lucedale plant is nearing completion, and commissioning is expected to commence later this year. Enviva’s terminal at the Port of Pascagoula also remains on track to receive, store and load production from the Lucedale facility once it is operational.
Additionally, the company announced it has signed a contract with a European counterparty that processes solid biomass into refined liquids that become high-grade renewable fuels like sustainable aviation fuel and biodiesel.
The Northampton expansion is complete and the Southampton expansion continues its commissioning ramp-up. Construction on the Greenwood expansion is also nearing completion.
Additionally, Enviva has made ‘significant investments’ in the ‘multi-plant expansions’, commencing at its Sampson and Hamlet plants, with Cottondale to follow.
John Keppler, chairman and CEO of Enviva, said: “For the third quarter of 2021, Enviva delivered financial and operational results that represent an important step forward for us, and we are positioned for a solid finish to what has been an incredible year for our company, our team, and our equity holders.
“Today, we are very pleased to announce our inaugural contact in the rapidly growing industrial sector, with a customer who will process our solid biomass into refined liquids that ultimately become high-grade renewable fuels like sustainable aviation fuel and biodiesel.
"We expect this important milestone to be just the first of many as we work with large industrial customers who can use our products to make difficult-to-decarbonise industries less greenhouse gas-intensive and more sustainable.
“The future has never been brighter for Enviva. With our transformative Simplification Transaction and Conversion, along with our expanding production capacity underpinned by our existing assets, the plant expansions underway, and the commissioning of the Lucedale plant and the Pascagoula terminal, we are entering 2022 with increased size and scale, a significantly improved cost of capital, and a broadening customer base.
“With the potential of exponential growth ahead of our product, driven by global commitments to net zero, we are continuing to build a company and a platform that delivers real climate change benefits, today, while consistently and sustainably delivering superior returns to our stakeholders.”
Don't forget our world-leading Biofuels International Conference and Expo takes place in Brussels on March 15-16 with some great speakers participating. For more information go to https://biofuels-news.com/conference/
Popular News Stories
LATEST VIDEOHow sustainable aviation fuel (SAF) is making its way in the aviation sector