Viridis Energy Inc. recently announced that due to recent structural concerns at its Okanagan Pellet Co. (OPC) plant and a combination of factors, including the increased capital investment necessary to restart wood pellet production at that location, it has decided to cease operations at its West Kelowna, British Columbia, plant.
Despite substantial upgrades over the past 10 months, additional requirements from local authorities regarding dust management together with the recently discovered structural challenges of the building, operating the plant safely would require significant additional capital outlays. The company has determined that such expenditures are not economically feasible in the current market environment.
The company will work with OPC’s creditors to determine the best course of action, including, but not limited to, the potential sale or joint venture of OPC, a sale or liquidation of those related assets, or the relocation of that facility in its entirety.
Viridis acquired Okanagan Pellet Company, located in West Kelowna, B.C , in April 2010. The plant has a nameplate capacity of 60,000 tons of premium softwood pellets annually, originated from spruce, pine and fir.
Viridis Energy, headquartered in Vancouver, B.C., Canada, is a manufacturer and distributor of renewable energy providing wood pellet biomass to global residential and industrial markets. Viridis Energy total wood pellet capacity is approximately 300,000 tons per year.
[gravityform id="1" title="true" description="true"]
[gravityform id="2" title="true" description="true"]
