Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, today issued the following statement regarding the Dutch Parliament’s motion on sustainably sourced biomass:
Enviva fully supports the principle that financial assistance should only be provided for woody biomass that is sourced sustainably. As a U.S. producer and exporter of wood pellets, complying with all applicable rules and regulations in the markets we operate in is critical to our business. The Netherlands is no exception. The motion passed in Dutch Parliament in mid-December 2022 requests that the Dutch government ensure that subsidies are not awarded to parties that do not comply with sustainability criteria through proper certification. Enviva is in full compliance with the sustainability criteria, which requires extensive independent auditing and certification. Therefore, we do not expect any adverse economic impact on Enviva.
"We have the utmost confidence that the wood pellets we deliver into the Netherlands meet the Dutch sustainability criteria," said Thomas Meth, President and Chief Executive Officer of Enviva. "Enviva's production is certified by the Sustainable Biomass Program (SBP), annually audited, and has always complied with the Dutch Ministry of Climate’s sustainability criteria.”
On the domestic front, President Biden recently signed into law a $1.7 trillion omnibus spending bill that recognizes forest bioenergy as a renewable energy source, declares it carbon neutral provided the use of forest biomass for energy production does not cause conversion of forests to non-forest use, and directs federal agencies to “recognize the full benefits of the use of forest biomass for energy, conservation, and responsible forest management.” The legislation further complements the U.S. government’s investment in and support for energy security and climate change resources, as previously seen in the passage of the 2022 Inflation Reduction Act, which utilizes investments and tax credits to incentivize the deployment of wind, solar, and other renewable power sources, including sustainably sourced biomass.
As expressed by a spokesperson for Senate Appropriations Committee member Sen. Susan Collins, “Recognizing the carbon neutrality of biomass not only aligns with the science, but also encourages investments in working forests, harvesting operations, bioenergy, wood products, and paper manufacturing.”
For more information on Enviva’s sustainable sourcing practices, visit our website, here.
About Envivaplant in Epes, Alabama. Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi, in early 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily 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.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, including those regarding Enviva’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to: the volume and quality of products that we are able to produce or source and sell, which could be adversely affected by, among other things, operating or technical difficulties at our wood pellet production plants or deep-water marine terminals; the prices at which we are able to sell our products; the creditworthiness of our contract counterparties; the amount of low-cost wood fiber that we are able to procure and process, which could be adversely affected by, among other things, disruptions in supply or operating or financial difficulties suffered by our suppliers; changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat, or combined heat and power generators; changes in leadership plans and strategies; overall domestic and global political and economic conditions; and other factors, as described in Enviva’s filings with the Securities and Exchange Commission (the “SEC”), including the detailed factors discussed under the heading “Risk Factors” in Enviva’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as supplemented in the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, June 30, and September 30, 2022.
Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva’s expectations and projections can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.