Enviva will invest 250 million dollars (229 million euros) in a new wood pellet production plant in Bond, Mississippi.

The facility is a key part of Enviva’s growth strategy to double pellet production capacity from 6.2 million tonnes per year to approximately 13 million tonnes over the next five years. The plant is fully contracted under long-term supply contracts with customers around the world, which has a positive economic impact for the community.

In addition to creating approximately 100 local jobs with wages expected to be approximately 70% above the county average, the Bond plant will generate over $1 million (€916,000) in taxes annually for the county. and the school district and will provide $250 million (€229 million) per year in economic impact in the region. Once operational, the Bond facility will support more than 350 jobs, including those in related industries, such as logging and transportation.

“Markets for our renewable products have grown rapidly as countries seek new ways to reduce their reliance on coal, natural gas and other fossil fuels for heat and power generation,” said John Keppler, President and CEO of Enviva.

“Demand from manufacturers looking to achieve net zero by decarbonizing industrial production of steel, cement, lime and sustainable aviation fuel is also growing rapidly for us.

“In an increasingly unstable geopolitical environment, countries and businesses around the world seek security of supply from stable partners like the United States. This new facility, the community it operates in, and the wonderful people who support it every day will continue Mississippi’s strong tradition of helping friends around the world achieve energy independence and win the fight against climate change.

The new Stone County plant joins two other Enviva facilities in Mississippi. The Company also owns and operates a deep water marine terminal at the Port of Pascagoula from which pellets are shipped to customers in Europe and Asia. Together, Enviva’s total investment in Mississippi is more than $600 million (550 million euros) and supports more than 850 direct and indirect jobs.

Construction is expected to begin in early 2023, subject to obtaining the necessary permits, and is expected to last 18 months. The Bond plant is expected to have a production capacity of over 1 million tonnes of pellets per year.