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
Drax Announces $50 Million Expansion In Aliceville
On the heels of a recent study published by Drax showing the company could contribute more than a quarter billion dollars to Alabama’s economy in 2023, the company has announced a $50 million investment at its Aliceville pellet plant. This investment will increase production capacity by nearly 50%, from…
Washington Carbon Offset Developer ‘Steps Away’ From Project
A company that had been working with the Washington state Dept. of Natural Resources (DNR) to help develop a state program to sell carbon offsets as a way to generate forest revenues has stepped away from the project, citing the…
Enviva Plants Longleaf As Part Of NC Forest Restoration Project
Enviva has partnered with the Sandhills Prescribed Burn Assn. and Milliken Advisors to sustainably thin the loblolly pine on over 500 acres of Hoke Community Forest in preparation for the establishment of a longleaf pine savannah in North Carolina. On Saturday, December 3, 2022, more…
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.