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Global CO2 Reduction buys pellet producer Carbiopel
By
Editorial
Fri Jun 3 2011, 09:36 AM
Global CO2 Reduction is paying an undisclosed sum to acquire a 51% stake in wood pellet producer Carbiopel Eco Stream. The Polish firm expects to produce 20,000 tons of pellets this year, generating around USD3.4m in revenue, 40,000 tons in 2012 and 80,000 tons in 2016, with an estimated revenue of USD11m. Carbiopel claims to have signed a deal to supply pellets to GDF Suez, which is building a 190MW biomass power plant in the country, scheduled for completion by the end of next year.
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