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February 2, 2010 – Vol.14 No.46 Mitsubishi Corporation, Weyerhaeuser to Explore Bio-pellet Venture. Mitsubishi Corporation and Weyerhaeuser Company have announced that the two companies signed a Strategic Memorandum of Understanding (MOU) to explore the possibilities of collaborating in the biomass-to-energy business. The companies are specifically interested in assessing the feasibility of jointly investing in and operating a commercial-scale bio-pellet production facility in the United States by 2011. Depending on the success of the joint feasibility study, more facilities could follow in addition to the initial production facility, in aspiration to become a world class bio-pellet producer. The bio-pellets will be produced using wood based biomass, targeted from U.S.-sourced sustainably managed forest resources or by-products and sold to utilities and industrial users for energy production. Mitsubishi Corporation currently operates two bio-pellet facilities in Japan and is also actively involved in the management of Vis Nova Trading GmbH, a major producer of bio-pellets in Germany. “Weyerhaeuser is committed to developing sustainable and renewable energy solutions for a carbon-constrained world,” said Dan Fulton, Weyerhaeuser President and CEO. “This opportunity has the potential to offer a significant renewable energy option here in North America and beyond while also creating green jobs in our operating communities. At the same time, we have the opportunity to enhance the value of Weyerhaeuser timberlands by converting residuals from our forest management activities into a new revenue stream.” To make bio-pellets biomass is compressed and molded into small, cylindrical pellets. Co-firing bio-pellets with thermal coal has proved effective in reducing greenhouse gas emissions at coal-fired power plants.
Mitsubishi Corporation is Japan's largest general trading company with over 200 bases of operations in approximately 80 countries worldwide. Weyerhaeuser Company, one of the world's largest forest products companies, has offices or operations in 10 countries. (2/1/10)
Links: Mitsubishi Corporation Weyerhaeuser Company
Related: --- Hydro-Quebec and Mitsubishi to Launch the Largest EV Trial in Canada.
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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