With the purchase, DRAX becomes the world's leading sustainable bioenergy generation and supply company, operating across North America, the UK, Europe and Asia. The purchase of Pinnacle's 11 sites will increase DRAX' operations to 17 pellet plants and development projects and boosts its production capacity to 4.9 million from 2.9 million. DRAX will also gain a terminal in Prince Rupert.
Pinnacle will operate as a subsidiary of DRAX and remain headquartered in British Columbia. (Source: DRAX, PR, Yahoo, 17 Apr., 2021)) Contact: DRAX, Will Gardiner, CEO, +44 (0) 1757 618381, www.drax.com; Pinnacle Renewable Energy, Duncan Davies, CEO, 604.270.9613, 604.270.9914--fax, www.pinnaclepellet.com
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The deal, which is subject to shareholder approvals, is expected to add 2.9 million tpy of biomass power production capacity to DRAX group and significantly reduce its average cost of production. (Source: DRAX, PR, Website, 15 Mar., 2021) Contact: DRAX, Will Gardiner, CEO, +44 (0) 1757 618381, www.drax.com; Pinnacle Renewable Energy, Duncan Davies, CEO, 604.270.9613, 604.270.9914--fax, www.pinnaclepellet.com
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According to the release, DRAX and Pinnacle combined will have 17 wood pellet plants, 3 major fibre baskets, 4 deep water ports, 4.9 Mt capacity from 2022 with 2.9 Mt available for self-supply, 2.6 GW of renewable biomass generation, with potential for BECCS, global growth opportunities for sustainable biomass. (Source: DRAX, Website, Various Media, 8 Feb., 2021) Contact: Pinnacle Renewable Energy, Duncan Davies, CEO, 604.270.9613, 604.270.9914--fax, www.pinnaclepellet.com;
DRAX, Will Gardiner, CEO, +44 (0) 1757 618381, www.drax.com
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Wood pellet usage in Japan has continued to grow alongside the build-out of biomass generating capacity there, providing Pinnacle with a geographically advantaged opportunity to continue expanding in this market, according to the release. (Source: Pinnacle Renewable Energy, Website, PR, 7 Dec., 2020) Contact: Pinnacle Renewable Energy, Duncan Davies, CEO, 604.270.9613, 604.270.9914--fax,
www.pinnaclepellet.com; Mitsubishi Corp., www.mitsubishicorp.com
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Pinnacle produces sustainable industrial wood pellet fuel for large-scale thermal power generators. The company operates eight industrial wood pellet production facilities in western Canada and one in Alabama, and owns a port terminal in Prince Rupert, B.C. Pinnacle also has long-term take-or-pay contracts with utilities in the U.K., Europe and Asia that represent an average of 108 pct of its production capacity through 2026.
(Source: Pinnacle Renewable Energy, Website PR, 9 Nov., 2020) Contact: Pinnacle Renewable Energy, (604) 270-9613, investors@pinnaclepellet.com, www.pinnaclepellet.com
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The completed upgrades included equipment that can process wetter fiber. Instead of primarily relying on the shavings and sawdust of sawmills, the plant can also process up to 80,000 additional tpy of woody biomass debris, damaged and dead wood.
Between upgrades at the Williams Lake facility and the previously reported work on its Meadowbank facility in Quesnel, the company has invested roughly $30 million in the region over the past year.
(Source: Pinnacle, PR, Biomass Mag., 22 June, Contact: Pinnacle, Robt. McCurdy, CEO, (604) 270-9613, investors@pinnaclepellet.com, www.pinnaclepellet.com
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Pinnacle will reportedly hold a 70 pct stake in the plant, Westervelt will hold 20 pct and Two Rivers Lumber Co. which will supply the plant with sawmill waste for pellet production, will hold the remaining 10 pct.
(Source: Westervelt Co., Various Media, San Francisco Chronicle, 28 Dec., 2019)
Contact: Westervelt, Brian Luoma, CEO, 205-562-5800,www.westerveldtlumber.com; Pinnacle Renewable Energy, Pinnacle Pellet, Robert McCurdy, CEO, (604) 270-9613,investors@pinnaclepellet.com, www.pinnaclepellet.com
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Pinnacle produces sustainable industrial wood pellet fuel for large-scale thermal power generators as a greener alternative to produce reliable baseload renewable power. The Company operates eight industrial wood pellet production facilities in western Canada and one in Alabama, and owns a port terminal in Prince Rupert, B.C. Pinnacle has entered into long-term take-or-pay contracts with utilities in the U.K., Europe and Asia that represent an average of 108% of its production capacity through 2026. (Source: Pinnacle Renewable Energy Inc., PR,CNW, 16 Dec., 2019) Contact: Pinnacle Renewable Energy, 877-737-4344, investors@pinnaclepellet.com, , www.pinnaclepellet.com
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Under the terms of the Mitsubishi contract, Pinnacle will supply 110,000 to 120,000 metric tpy of industrial wood pellets beginning in 2021. For the Sout hKorean contract, Pinnacle will supply 100,000 metric tpy of industrial wood pellets to GS beginning in 2022.
Pinnacle Renewable Energy is a rapidly growing industrial wood pellet manufacturer. The company produces sustainable fuel for renewable electricity generation in the form of industrial wood pellets, according to the company. (Source: Pinnacle Renewable Energy, PR, Lesprom Network, 15 July, 2019) Contact: Pinnacle Renewable Energy, Pinnacle Pellet, Robert McCurdy, CEO, (604) 270-9613, www.pinnaclepellet.com
More Low-Carbon Energy News Pinnacle Renewable Energy, Woody Biomass, Wood Pellet,