Enviva Announces New Executive Vice President and Chief Development Officer Mark Coscio

Rhea-AI Summary

Enviva Inc. (NYSE: EVA) has appointed Mark Coscio as Executive Vice President and Chief Development Officer, effective immediately. Coscio, bringing nearly two decades of experience in managing large-scale infrastructure projects, will lead corporate development and construction functions. The company is planning significant capacity expansions, aiming to double production by adding six new plants over the next five years, in response to an ongoing structural shortage in the wood pellet supply industry.

Positive

• Appointment of Mark Coscio enhances leadership in corporate development and construction.
• Ambitious plan to double production capacity by adding six new plants within five years.
• Strong market demand for wood pellets supports growth strategy.

Negative

• None.

BETHESDA, Md.--(BUSINESS WIRE)-- Today, Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced wood biomass, announced that it has appointed Mark Coscio as Executive Vice President and Chief Development Officer. In his new role, Coscio will be responsible for leading Enviva’s corporate development and construction functions.

Photo of Mark Coscio, Executive Vice President and Chief Development Officer at Enviva. (Photo: Business Wire)

“Given the continuing structural shortage in wood pellet supply in our industry, where long-term demand continues to outstrip supply, there has never been a better time to be in this business and we are excited to be executing on our program of significant, highly accretive capacity expansions,” said John Keppler, Chairman and Chief Executive Officer. “To help us grow rapidly at scale, I am very pleased to announce that we have recently added Mark Coscio to our leadership team as Executive Vice President and Chief Development Officer. Mark is a seasoned construction and development executive with nearly two decades of experience leading large scale, multi-billion-dollar infrastructure investment programs. His substantial experience and leadership add tremendous strength and depth to our internal capabilities as we execute our ambitious strategic plan to double our production capacity by adding six new plants over the next five years,” concluded Keppler.

Mr. Coscio brings to Enviva extensive experience managing global engineering, procurement, and construction projects within the energy sector. Most recently, Mr. Coscio served as Senior Vice President, North, Central & South America at McDermott International, Ltd, a global provider of engineering and construction services for companies across the energy industry. Prior to his time at McDermott, Mr. Coscio held progressively increasing leadership roles at Chicago Bridge & Iron Company from 2007 to 2018.

About Enviva

Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005713/en/

Maria Moreno

media@envivabiomass.com

+1-301-657-5560

Source: Enviva Inc.

FAQ

Who is the new Chief Development Officer of Enviva?

Mark Coscio has been appointed as the Executive Vice President and Chief Development Officer of Enviva Inc.

What are Enviva's plans for growth?

Enviva plans to double its production capacity by adding six new plants over the next five years.

What is the stock symbol for Enviva?

The stock symbol for Enviva is EVA, traded on the NYSE.

What industry does Enviva operate in?

Enviva operates in the biomass energy industry, producing sustainably sourced wood pellets.

Why is the appointment of Mark Coscio important for Enviva?

Coscio's experience in leading large-scale infrastructure projects is expected to strengthen Enviva's capacity expansion efforts.