Press release from TheNewswire.ca
Viridis Energy's Scotia Atlantic Biomass Commences Wood Pellet Production
Wednesday, September 04, 2013
Viridis Energy's Scotia Atlantic Biomass Commences Wood Pellet Production07:00 EDT Wednesday, September 04, 2013
Vancouver, BC - September 4 , 2013 - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD), a "Cleantech" manufacturer and distributor of renewable energy providing biomass fuel to global residential and industrial markets, announced today that it has commenced production of wood pellets at its wholly owned subsidiary, Scotia Atlantic Biomass Company, Ltd. ("Scotia"), located in Middle Musquodoboit, Nova Scotia, with its first shipment of 25,000 sold for delivery in December. The Company began production on three of its five pellet presses in late August and expects to be running all five presses by the end of September. The Scotia facility's current annual capacity of 120,000 tons, brings Viridis' total production capacity to 180,000 tons.
The Company recently announced that it entered into an agreement with Ekman & Co AB ("Ekman"), one of the world's oldest trading houses and wholesalers of forest products, to market Scotia's entire 240,000 ton wood pellet production over a two-year period as its exclusive agent. Ekman's operations span 100 countries through 40 offices, including Europe where most of Scotia's production will be sold to utilities and industrial consumers of wood pellets.
"Our Scotia Atlantic facility is located near excellent shipping ports on the Atlantic Ocean, making it strategic to addressing the growing demand for renewable energy sources in Europe", said Christopher Robertson, Viridis' chief executive officer. "We are delighted with the quality of pellets produced at Scotia. As demand for wood pellets continues to grow dramatically and unique marketing opportunities similar to our Ekman arrangement surface, we will look for means to aggregate product offering through production expansion, as well as wholesale sources."
----------------------------------- |Company Contact: Michele | | | |Rebiere Chief Financial | | | |Officer Viridis Energy Inc | | | |905-847-5226 | | | |firstname.lastname@example.org| | | -----------------------------------
About Viridis Energy Inc.
Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing, Okanagan Pellet Company and Scotia Atlantic Biomass, thus providing the company with vertical integration for distribution and manufacturing as well as coast to coast national presence. For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca .
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for biofuels, (3) the risk that the Company does not execute its business plan, (4) inability to finance operations and growth (5) inability to finance the start-up operations in Nova Scotia in a timely manner (6) inability to retain key management and employees, (7) an increase in the number of competitors with larger resources, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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