EU Vote Boosts Biomass
The European Parliament voted in mid-September to recognize primary woody biomass as a renewable energy source, keeping its classification under both the first Renewable Energy Directive (RED) and RED II. According to news reports, the vote was a critical move to meet the ambitious EU Parliament goal to increase the use of renewable energy to 45% by 2030, and for achieving the EU’s goal of carbon neutrality by 2050.
Despite some groups objecting to the vote, The Council and EU Commission have continued support for primary woody biomass and its increased utilization to meet climate change goals and secure energy supplies. After this vote, the EU Parliament, the Council of the EU, and the EU Commission will begin negotiations among the three parties, that are estimated to reach a final compromise on RED III in the first half of 2023.
“Our future profitability and liquidity are expected to be negatively impacted by the following matters which have resulted in substantial doubt about the company’s ability to continue as a growing concern,” states Enviva in its 10-Q filing with the Securities and Exchange Commission upon releasing its third quarter earnings report, which noted that Enviva incurred net losses of $258 million for the nine…
Morbark has unveiled the all NEW “BVR” line of hand-fed brush chippers at this year’s TCI Expo, in St. Louis, Mo. Alongside the BVR lineup, visitors found 6- and 8-in. brush chippers from Timberwolf. Timberwolf, an Alamo Group company, is headquartered in Suffolk, UK, and will be marketed in the U.S. as the Morbark TW series, beginning the first quarter of 2024…
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