Biomass Secure Power announces approval of new pellet plant in B.C.
Biomass Secure Power Inc.has announced a Project start date of July 1st 2011 for the construction of their first 500,000 tonne/yr whitewood pellet plant has been accepted by its Board of Directors.
The engineering and construction program anticipates breaking ground at Plant one on 1st October 2011. Start-up and commissioning is scheduled to commence in September 2012. Gross revenue from this plant is projected at $75 million per year.
Biomass Secure Power’s management wants their shareholders to know that they have also been diligently working on the purchase of 2 additional plots for future plant locations. Once purchases are finalized and financing closed, construction on both plants will commence immediately. These negotiations are expected to be finalized within the next 30 days as management awaits final counter offers. With 3 plants in the works in the next fiscal year, Biomass anticipates potential cumulative revenues of $270 million per year.
Biomass Secure Power CEO Jim Carroll states, “Our net profit cannot be disclosed at this time, however, we’ll be right up there amongst the elite global corporations in our industry.”
With the construction plan now adopted, the company will start with the building of Line 1 at Plant 1.
The first line will be set up to produce up to 250,000 tonnes/yr. of Whitewood pellets. The storage building for feed stock and for pellets will feature programmable stackers and reclaimers and will be setup to provide flexible storage options.
The construction for line 2 will commence 1st February 2012 and will include a 50,000 t/yr Torrefaction furnace to be operated as a pilot facility for a projected 250,000 tonne/yr furnace.
The pilot line will also be used to establish the market for Torrefied pellets. Space will be allocated at Plant 1 for the full scale torrefication furnace to be installed at some future date.