Weyerhaeuser and Mitsubishi in pellet venture4 February 2010
Weyerhaeuser and Mitsubishi Corporation have signed a strategic memorandum of understanding to explore the possibilities of collaborating in the biomass-to-energy business.
The parties are particularly interested in assessing the feasibility of a commercial-scale wood pellet production facility in the US by 2011.
Depending on the success of the study, more facilities could follow in aspiration to become a world class bio-pellet producer.
Mitsubishi currently operates two bio-pellet facilities in Japan and is actively involved in the management of Vis Nova Trading GmbH, a major pellet producer in Germany.
“We have the opportunity to enhance the value of Weyerhaeuser timberlands by converting residuals from our forest management activities into a new revenue stream,” said Weyerhaeuser CEO Dan Fulton.