BETHESDA, Md.--(BUSINESS WIRE)--Jun 28, 2023--
Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, breaks ground on its forthcoming Epes plant under construction in Sumter County, AL.
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Enviva's President and CEO, Thomas Meth, along with Governor Kay Ivey, and other county and state officials, broke ground today on its forthcoming Epes plant under construction in Sumter County, AL. (Photo: Business Wire)
Enviva has been active in Sumter County since its initial assessment of the site in 2018. In 2020, Enviva acquired over 300 acres in the Epes Industrial Park, located next to the Tombigbee River in Sumter County, to build its largest wood pellet production plant. In July 2022, the company began construction of its fully contracted Epes plant, which will have a nameplate capacity of 1.1 million metric tons per year and is expected to be in service by mid-2024, with production fully ramped by 2025.
“The fact that the world’s largest wood pellet producer is building its largest production facility to date here, in Sweet Home Alabama, is yet another testament to our nation-leading business climate and world-class workforce,” said Alabama Governor Kay Ivey. “Enviva’s significant commitment at the Port of Epes will undoubtedly breathe life into a community and region eager for new, long-term opportunities. It truly is an exciting day for West Alabama, and I sincerely appreciate Enviva’s decision to plant roots here in our great state.”
When assessing and developing the project, Enviva chose to repurpose a former business site and construct a brand-new, state-of-the-art manufacturing facility to jumpstart economic growth and bring employment opportunities back to the community it now calls home. Once operational, the Epes plant is expected to support approximately 100 direct jobs and 250 indirect jobs, including in adjacent industries such as logging, trucking, and shipping. Enviva plans to invest, on average, $375 million for each newly constructed plant going forward, including the Epes plant. Enviva’s Epes plant will be one of the largest taxpayers in the county, resulting in economic benefits to the community with funding for programs like road maintenance and schools, as well as safety and emergency services.
“I am proud to see more economic development and job creation in Sumter County!” said Alabama Congresswoman Terri Sewell. “It is imperative for the prosperity of Alabama that we continue to deliver more resources and opportunities directly to the people that need them most. I am thrilled to see Enviva is doing just that by providing even more jobs to our rural communities through this expansion.”
The rich fiber basket and supply in Alabama, along with favorable transport logistics and a great local workforce, are some of the key factors which initially made the project sustainable and attractive for Enviva. As part of its unwavering commitment to sustainability, Enviva will source fiber at the new plant by following the robust set of practices and principles that are employed successfully at Enviva’s other plants. The facility will sustainably and responsibly source wood from areas within approximately 75 miles of the plant.
“It is an honor to be here in Sumter County with Governor Ivey and local officials to celebrate this momentous occasion of breaking ground on a fully contracted, state-of-the-art wood pellet production facility in West Alabama,” said Thomas Meth, President and CEO of Enviva. “We are excited to grow with Alabama as we remain committed to being a long-term source of green jobs and green investment across the state. We have been humbled by the strong support we have received from the local community over the last few years, and we look forward to formally being a part of the community and to being a good neighbor for many years to come.”
Pellets produced at the Epes plant will be exported to international markets, mainly in Europe and Asia, and will help to fill international demand for secure sources of renewable energy, which help to defossilize power and heat generation, as well as energy-intensive industries such as steel, cement, and lime, as well as sustainable aviation fuels.
During the ceremony, Enviva also recognized the following organizations for their invaluable contribution in making the project possible and for in turn bringing economic development to Sumter County: MuniStrategies, LLC, PB Community Impact Fund, LLC, UB Community Development, LLC, National Impact Fund, LLC, Capital One - National Association, and United Bank.
In addition, the Epes plant has been designed using learnings from the company’s existing ten plants to deliver an improved and modernized model known as the EVA-1100. The patent pending blueprint is being used as the standardized plant design for its future 1.1 million metric ton production capacity plants, to include Epes. Click here to watch the video and learn more.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11 th plant in Epes, Alabama. Additionally, Enviva is planning to commence construction of its 12 th plant near Bond, Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to defossilize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding Enviva’s future financial performance, as well as Enviva’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230628445222/en/
CONTACT: MEDIA CONTACT:
Maria C. Moreno
media@envivabiomass.com
+1-301-657-5560
KEYWORD: UNITED STATES NORTH AMERICA CANADA ALABAMA MARYLAND
INDUSTRY KEYWORD: OTHER ENERGY UTILITIES OTHER NATURAL RESOURCES SUSTAINABILITY FOREST PRODUCTS ENERGY STATE/LOCAL NATURAL RESOURCES PUBLIC POLICY OTHER MANUFACTURING ENVIRONMENT PUBLIC POLICY/GOVERNMENT MANUFACTURING
SOURCE: Enviva Inc.
Copyright Business Wire 2023.
PUB: 06/28/2023 05:29 PM/DISC: 06/28/2023 05:28 PM
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