Enviva Releases White Paper on the Evolution of Modern Bioenergy in Heavy Industry Verticals

Rhea-AI Summary

Enviva Inc. (NYSE: EVA), the leading producer of sustainably sourced wood biomass, has released a new white paper titled Biomass: Unlocking a Future Beyond Fossil Fuel. This document explores the potential of biomass to decarbonize industries such as steel, cement, and aviation fuel, which contribute to one-third of global CO2 emissions. The company emphasizes its role in supporting a clean energy transition, particularly after the recent passage of the Inflation Reduction Act, enhancing tax credits for renewable energy production. Enviva’s mission is to maintain U.S. forests while reducing greenhouse gas emissions.

Positive

• Release of white paper showcasing biomass's role in decarbonizing industrial sectors.
• First U.S.-based sustainable aviation fuel (SAF) contract announced with Alder Fuels.
• Support from the Inflation Reduction Act enhancing tax credits for renewable energy.

Negative

• None.

On a mission to displace fossil fuels and accelerate a scalable, affordable, secure clean energy transition, Enviva’s sustainably sourced wood biomass is set to decarbonize additional sectors like lime, steel, cement and sustainable aviation fuel

BETHESDA, Md.--(BUSINESS WIRE)-- Today, Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced wood biomass, published a white paper that discusses unlocking the future of biomass beyond fossil fuels into other industrial applications, including steel, cement, lime, chemicals, and sustainable aviation fuel (SAF), among others. While Enviva’s sustainably sourced biomass is predominately used today to decarbonize power and heat generation, modern biomass will increasingly be used to reduce emissions in these hard-to-abate sectors that are responsible for nearly one-third of global CO2 emissions as governments, companies, and industry endeavor to mitigate their climate change impacts through net-zero emissions goals. All sectors ‒ including energy, construction, transportation, aviation, and food systems ‒ are looking to rapidly decarbonize, and sustainably sourced biomass is the only technologically advanced, scalable, and market-ready product poised to substantially mitigate climate change and decarbonize supply chains at large.

Enviva's Cottondale, FL plant and cover image for Enviva's "Biomass: Unlocking a Future Beyond Fossil Fuel" white paper. (Photo: Business Wire)

This week, Enviva, other industry experts, customers, and key supply chain partners are convening at the 2022 U.S. Industrial Pellet Association (USIPA) Conference in Miami, FL to discuss the industry’s outlook and opportunities to fuel the next wave of growth. Leveraging the most preeminent event in the industry, Enviva unveiled its white paper, Biomass: Unlocking a Future Beyond Fossil Fuel, which describes how Enviva’s wood biomass can offer a turnkey solution for decarbonization in several industrial applications based on a reliable, sustainable, large-scale producer, with a robust business spanning multiple continents. Many of the process temperatures, chemicals, and feedstocks currently derived from fossil fuels can be produced more cleanly and at a lower cost with sustainably sourced biomass. In fact, production of a wide range of liquid and gaseous fuels and industrial chemicals is made possible via wood biomass feedstock. Recently, Enviva announced its first U.S.-based SAF contract with Alder Fuels to deliver the biomass feedstock flexibility needed to achieve jet fuel decarbonization at scale.

“The wood biomass industry will play a pivotal role in carbon removals for the future, while also unlocking new value chains for hard-to-abate industries,” said Enviva President, Thomas Meth. “Enviva is at the forefront of this movement, offering a realistic solution that is available at scale today, building a global bio-based economy, from power and heat to new green industrial applications. Serving as a trusted, sustainably sourced biomass producer, Enviva will continue to meet growing global energy demand while pursuing new low-carbon applications for biomass.”

Looking to the future, the leading academic, scientific, and policymaking support continues to reinforce the European Union’s long-standing conclusions about the positive climate benefits of renewable energy with greater utilization of biomass. Most recently, the United States took historic action through the passage of The Inflation Reduction Act (IRA) that supports the global clean energy transition and climate change mitigation strategies by extending and modifying tax credits for the production of renewable energy from biomass and other technologies, as well as enhancing tax credits for carbon capture, utilization, and storage (CCUS) at both industrial facilities and power plants across the country.

SAF, green lime, green steel, and green cement offer opportunities today that will only grow in the future as our climate challenged world looks for more sustainable solutions. Enviva is proud to carry on and grow in its core mission of maintaining and improving the health of U.S. forests while reducing greenhouse gas emissions on a lifecycle basis around the world through new and expanded opportunities.

As Enviva looks to the future and the climate positive impacts that biomass has to offer, not only for the energy sector, but also in the production of critical industrial materials and biofuels, we invite you to read our new white paper – Biomass: Unlocking a Future Beyond Fossil Fuel here.

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/20221003005789/en/

Jacob Westfall

media@envivabiomass.com

+1-301-657-5560

Source: Enviva Inc.

FAQ

What are Enviva's plans for biomass in industrial applications?

Enviva plans to use sustainably sourced wood biomass to decarbonize hard-to-abate sectors like steel, cement, and aviation fuel as outlined in their new white paper.

What is the significance of the Inflation Reduction Act for Enviva?

The Inflation Reduction Act enhances tax credits for renewable energy production, benefiting Enviva's biomass initiatives and supporting their decarbonization strategies.

When did Enviva announce its first U.S. SAF contract?

Enviva announced its first U.S.-based sustainable aviation fuel (SAF) contract this week during the USIPA Conference.

What emissions do hard-to-abate sectors contribute?

Hard-to-abate sectors are responsible for nearly one-third of global CO2 emissions, which Enviva aims to mitigate through biomass.

Where is Enviva's Cottondale plant located?

Enviva's Cottondale plant is located in Florida.