Drax Acquires BC’s Princeton Standard Pellet
Drax Group has signed an agreement with Princeton Standard Pellet Corporation (PSPC) to acquire its pellet plant in Princeton, British Columbia, Canada. The acquisition is expected to be complete in the third quarter of this year. The plant, which has been operating since 1995, has the capacity to produce 90,000 tonnes of wood pellets a year, primarily from sawmill residues. Around half of the output from the plant is currently contracted to Drax.
The plant is located close to the Group’s Armstrong and Lavington plants and the port of Vancouver, and has 32 employees, who are expected to join Drax. Following completion of the acquisition the plant is expected to contribute to the Group’s strategy to increase pellet production to 8 million tonnes a year by 2030.
RELATED ARTICLES:
Drax Participates In Parade To Celebrate ‘Pen Friends’
Drax Officially Opens Demopolis Pellet Plant
Drax Gets Satellite Pellet Plant Going
Pinnacle Renewable Energy and Drax Biomass Combine, Rebrand to Drax
Drax Supports United Way’s Latest Efforts
Construction Ongoing At Drax Pellet Plants
Drax Satellite Mills Go With BE&E
Westervelt Sells Pellet Interests
Drax Announces $40M Investment In Arkansas
Drax Sets Sights On Carbon Capture
Pinnacle Renewable Energy To Be Acquired By Drax Group
Earthworm, Drax Working Together
Latest news
BE&E Parent Company Announces $16.2 Investment In Kentucky Plant
BE&E Parent Company Announces $16.2 Investment In Kentucky Plant Floyd Holdings has announced a collaboration with the Commonwealth of Kentucky and BE&E's Greenville Manufacturing operation, whereas BE&E will partner with the state to invest in the...
Enviva Announces Successful Emergence From Chapter 11
Enviva Announces Successful Emergence From Chapter 11Enviva has announced its successful emergence from Chapter 11 bankruptcy protection, marking a significant milestone in the company’s strategic transformation. Enviva’s Plan of Reorganization was confirmed by the...
New From Tigercat: 6500 Chipper
New From Tigercat: 6500 ChipperTigercat has officially launched 6500 chipper after more than a year of successful field operations involving multiple retail units. The 6500 is a heavy-duty down-swing drum chipper designed for high production and maximum flexibility....
Find Us On Social
Subscribe to Our Newsletter
Wood Bioenergy News Online hits the inboxes of subscribers in the wood-to-energy sectors.
Subscribe/Renew
Wood Bioenergy is published and delivered worldwide 6 times per year. Free to qualified readers in the U.S. Subscribers outside the U.S. are asked to pay a small fee.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.