It's good news for Pacific BioEnergy in Prince George.
Pacific Bioenergy Corporation has announced they have entered into two long-term pellet supply contracts with Power Producers from Japan.
In a release, the company says the two contracts start in 2020 and 2022 respectively and run through 2030 and 2035.
PacBio will be supplying 170,000 metric tons combined yearly by 2022.
The pellets will be delivered to newly built dedicated biomass power plans and will help Japan's energy transition to stable, renewable, and green electricity production.
CEO of Pacific BioEnergy says these contracts assure the continued strong presence of the Prince George and affiliated manufacturing operations in the Asian market.
“These new contracts, which extend to 2030 and 2035, represent a major extension to PacBio’s existing contracted sale portfolio. This new business assures the continued strong presence of our Prince George and affiliated manufacturing operations in the dynamic and growing Asian market,” he adds in the release.
“This business, in addition to existing contracts in the European and Japanese markets, demonstrates the fulfillment of over 12 years of pioneering market development work in the Asia region.”
Since their inception in 1994, PacBio has converted and marketed over four million tonnes of sawmill and forest harvest.
In 2008, the company began using forest residuals (also known as slash) as a raw material source, which supplemented sawmill residuals that had normally been incinerated in Bee Hive Burners, thereby materially reducing air smoke contamination in Prince George as well as Central B.C.
Pacific BioEnergy has been in Prince George since 1994 and employs 55 people at the plant.
The office generates another 50 indirect jobs.
The plant itself produces roughly 550,000 tons of wood pellets per year.
