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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.
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.
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.
From Spring 2015, any biomass owners—whether domestic or commercial—must buy their fuels from BSL (Biomass Suppliers List) approved suppliers in order to receive RHI payments. [72] The Renewable Heat Incentive scandal also referred to as the "cash for ash scandal", was a political scandal in Northern Ireland that centred on a failed ...
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Late Tuesday, Enviva announced it had reached agreements with some of its biggest creditors to significantly reduce its debt, a move that required the company to enter Chapter 11 bankruptcy.
On August 28, 2008, Xethanol relaunched itself as Global Energy Holdings Group, Inc., with the intention to diversify away from ethanol to other alternative fuels including woody biomass, orange peels, and methane from landfills. [4] By September, 2009, Global Energy Holdings had filed for Chapter 11 bankruptcy. [5]