Enviva Holdings, LP’s Off-Take Contract with Sumitomo Becomes Firm
BETHESDA, MD — September 13, 2018 — Enviva Holdings, LP announced today that its previously disclosed take-or-pay off-take contract to supply Sumitomo Corporation with 250,000 metric tons per year of wood pellets is now firm, as all conditions precedent to the effectiveness of the contract have been satisfied. Deliveries under the contract are scheduled to commence in 2021 and continue through 2036.
About Enviva Holdings, LP
Enviva Holdings, LP is the world’s largest producer of wood pellets, a renewable and sustainable energy source used to generate electricity and heat. Through its subsidiaries, Enviva Holdings, LP owns and operates wood pellet processing plants and deep-water export terminals in the Southeastern United States. We export our pellets primarily to power plants in the United Kingdom and Europe that previously were fueled by coal, enabling them to reduce their lifetime carbon footprint by about 80 percent. We make our pellets using sustainable practices that protect Southern forests, and we employ about 800 people and support many other businesses in the rural South, where jobs and economic opportunity are sometimes scarce. Enviva Holdings, LP conducts its activities primarily through two entities: Enviva Partners, LP, a publicly-traded master limited partnership (NYSE: EVA), and Enviva Development Holdings, LLC, a wholly-owned private company. To learn more about Enviva, please visit our website at www.envivabiomass.com.
Cautionary Note Concerning Forward-Looking Statements
Certain statements and information in this press release, including those concerning future deliveries under off-take contracts, may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effects. Although management believes that these forward-looking statements are reasonable when made, there can be no assurance that future developments will be those that management anticipates. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.
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