Ekman & Co. to market pellets for Viridis Energy subsidiary Scotia Atlantic Biomass.
Viridis Energy Inc. has announced that its wholly owned subsidiary, Scotia Atlantic Biomass Company, Ltd. has entered into an agreement with Ekman & Co AB, one of the world’s oldest trading houses and wholesalers of forest products, under which Ekman will serve as Scotia’s exclusive worldwide agent to market its entire wood pellet production.
Under the terms of the agreement, Ekman will provide Scotia with the best possible sales opportunities at all times, including sales into different markets and market segments. The agreement covers an initial period of 24 months and an aggregate projected wood pellet production of up to 240,000 metric tons.
Viridis purchased Scotia, earlier run by Enligna and before that by Fulghum Fibre fuels in cooperation with the local sawmill Mactyra that provided the fiber. It is located in Nova Scotia ruffly 100 km north of Halifax.
It has one of largest wood pellet capacities in Canada. Scotia’s production is expected to begin this month after several months of refurbishing and calibrating operations.
Ekman, founded in 1802 and based in Gothenburg, Sweden, specializes in all facets of the supply chain of forest related products, including sales, distribution, infrastructure support and financial services, such as insurance, trade financing, credit and interest rate risk and currency hedging. With revenue exceeding $2.3 billion and assets nearing $300 million, Ekman maintains 40 offices in 24 countries throughout Europe, the Middle East, North and South America, Asia and the Pacific Rim.
“The re-opening of the Scotia operations is a significant accomplishment towards achieving our goal of 1,000,000 metric ton capacity. We received outstanding cooperation and support from local Nova Scotia authorities and vendors to reach this point,” said Christopher Robertson, Viridis Energy’s CEO.
” We look forward to building a mutually beneficial relationship with such a value-added partner.” Jan Svensson, Ekman Group’s chief executive officer, added, “Ekman prides itself for being able to identify opportunities in shifting global market conditions. Our focus on forest products has provided us with a dynamic medium through which we can react to evolutionary trends and use our organizational skills to add value to the supply chain. Working with seasoned, wood pellet professionals like Viridis is a natural progression for Ekman to further pioneer forest products as a sustainable, renewable resource.”