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Enviva Inc. is the world's largest producer of wood pellets used for energy production. The company has been the subject of controversy regarding its sustainability with an environmental group's analysis suggesting Enviva is responsible for 50 acres a day of clear-cut land and significantly increased CO 2 production compared to coal per megawatt-hour.
The bankruptcy follows months of turmoil as Enviva’s stock price plummeted by more than 90 percent, leading to warnings that the company could be delisted from the New York Stock Exchange.
The company, which operates four mills in Eastern N.C., filed for Chapter 11 bankruptcy last week, stating that it had debts of more than $2.6 billion.
Wood pellets produced at the Enviva plant in Northampton County, N.C., seen on Sept. 3, 2019. Enviva, the world’s largest producer of wood pellets, declared bankruptcy this week.
Baxter would later be sued personally for $30 million after the bankruptcy of Enron due to his sale of $30 million worth of Enron stock in the months prior to Enron's bankruptcy in December 2001. Fortune magazine writer Bethany McLean described Baxter in Enron: The Smartest Guys in the Room as being a good deal-maker but also being a manic ...
Enviva is one of the largest suppliers of wood pellets and other processed woody biomass in the world. These products are used by industrial customers. [ 18 ] The AES Corporation and Riverstone Holdings LLC announced on March 25 that they have committed up to 1 billion as a part of a new joint venture to develop a global platform of utility ...
Maryland-based Enviva said in the filing that its debts exceed $2.6 billion. The company owes $780 million to a Delaware bank, $348 million to a German energy company, as well as $353 million in ...
[53] [58] According to the Biomass Energy Resource Center, the assumption of carbon neutrality "has shifted to a recognition that the carbon implications of biomass depend on how the fuel is harvested, from what forest types, what kinds of forest management are applied, and how biomass is used over time and across the landscape." [49