Jan 18 2015
The sale of Green Circle BioEnergy to Enviva Partners became official on Jan. 5, the deal closing after a favorable ruling in the government’s mandatory test for the sale’s conformity with anti-trust laws.
Swedish-owned Green Circle BioEnergy set up shop in Cottondale in 2008. The plant is now under control of the American-owed Enviva group and is expected to be renamed “Enviva Pellets Cottondale, LLC.”
Company officials said they were not able to say much more about the future of the plant under its ownership at this point, citing federal regulations that force them to observe a “quiet period” as Enviva explores the option of offering publicly traded stock in the company.
Green Circle CEO Morten Neraas had confirmed the planned sale last November, and said the change was not expected to affect employees or product suppliers negatively. Green Circle had about 80 people employed directly within its plant. It engages another 20 or so as drivers transporting raw material from the field to the plant and then taking the product to shipping points in Panama City
Enviva Partners acquired the Cottondale-based wood pellet plant from the direct buyer, Enviva Holdings, after the direct deal was okayed by regulators.
Indicating expectations that the demand for wood pellets for energy production and other uses will grow significantly around the globe in the future, the filing does speak to some extent of future plans for the local operation. “The wood pellets produced from our Cottondale plant are suitable for uses other than industrial power generation, including commercial and residential heating,” the filing states. “The Cottondale plant has already delivered production into this market and has several cargoes contracted for 2015 and beyond.