Enviva and J-Power Join Efforts to Decarbonize Power Generation in Japan
Enviva Partners, LP (NYSE:EVA) (“Enviva”), a global renewable energy company specializing in sustainable wood bioenergy, and Tokyo-based utility Electric Power Development Co., Ltd. (TYO:9513) (“J-Power”), have signed a memorandum of understanding (MOU) for the long-term, large-scale supply of sustainable wood biomass from Enviva's manufacturing facilities in the U.S. Southeast to J-Power’s coal-fired power plants in Japan. The agreement is designed to develop an executable and investable plan under which Enviva will build new infrastructure to produce and deliver up to 5 million metric tons of sustainable wood pellets to permanently replace coal in J-Power’s existing coal-fired power plants, significantly curbing the utility’s greenhouse-gas emissions. The MOU provides a framework to advance the role of biomass as a renewable and sustainable energy source and help J-Power meet its “Blue Mission” goal to be carbon-neutral by 2050.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211116006425/en/
Enviva’s wood pellet storage dome at the Port of Chesapeake in Virginia, U.S. (Photo: Business Wire)
“Climate change is a global challenge requiring a global solution. Enviva has an established track record of delivering a dependable, scalable, and sustainable product, which today delivers substantial and deep decarbonization of energy to generators and industrials around the world,” said Thomas Meth, co-founder and executive vice president of sales and marketing at Enviva. “We are delighted that our partnership with J-Power can help this leading utility in Japan reach its climate goals with reliable, baseload energy that complements the intermittency of wind and solar.”
In April, Japan, the world’s third-largest economy, nearly doubled its 2030 target to cut carbon emissions by 40%, up from 26% in 2013, joining other countries shifting from coal and other fossil fuels to accelerate the fight against climate change. To further align with the government decarbonization policy, J-Power, which has a total of 8.4 gigawatts of coal-fired power capacity, recently announced various plans, including phase-out of aged thermal power plants and co-firing of biomass or ammonia.
Under the agreement, the parties will jointly evaluate the most sustainable and cost-effective means to deliver on the potential of the coal-to-biomass conversion project, such as security of supply, port reception, delivery and storage logistics, safety measures, and project economics. The investment will leverage J-Power’s existing coal-fired power plants by re-purposing them via conversion, resulting potentially in both dedicated as well as co-fired biomass plants.
Converting existing coal-fired power plants to sustainable biomass usage is one of the quickest, most cost-effective ways to reduce the lifecycle greenhouse gas emissions of a plant by more than 80 percent while retaining jobs throughout the supply chain. Coal-to-biomass conversion projects enable former coal plants to continue operating cost-efficiently with their existing supply, generation, and grid infrastructure. Unlike wind and solar energy, biomass is not dependent on grid expansion.
“We are confident that our partnership with Enviva, which has a track record of supplying biomass sustainably and reliably, will firmly support J-Power’s efforts in realizing carbon-neutrality. By combining J-Power’s highly efficient technology to utilize solid fuel and Enviva’s global supply capability, we are meeting the social expectations of achieving carbon neutrality coupled by stable energy supply,” said Shinsuke Suzuki, Executive Officer, Director of Thermal Energy & Value Creation Department at J-Power.
Biomass ultimately provided by Enviva under the agreement will be certified under the European Union’s (EU) current sustainability criteria, which maintains and improves long-term forest health, growth, and capacity. The EU’s sustainability standard guarantees biomass is only sourced from sustainably managed forests that are regenerated, ensuring that carbon stocks are stable or growing, that forest harvesting is legal, and prevents sourcing from nature protection areas, taking soil quality and biodiversity into account.
Earlier this year, Enviva announced its own Net-Zero Commitment that will reduce, eliminate, or offset all of its direct emissions by 2030. Enviva agreed to adopt innovative and improved lower-emission processes through investments in projects that result in real, additional, and third-party verified net-carbon reductions as part of this ambitious plan to cut carbon emissions from fossil fuels and improve energy efficiency.
Enviva (NYSE:EVA) aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. Enviva sells a significant majority 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. Enviva owns and operates 10 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. In addition, Enviva exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at envivabiomass.com. Follow Enviva on social media @Enviva.
About Electric Power Development Co., Ltd. (J-Power)
Electric Power Development Co., Ltd. (J-Power) is a Japan-based power generator and whole seller. J-Power has 18,250 megawatts (MW) of power generation capacity at 97 locations in Japan. Its hydropower share represents about 47%, and thermal power about 50%, respectively. J-Power is developing renewable power facilities such as wind or geothermal, with a plan to increase capacity to 1,500 MW by 2025. Internationally, J-Power has 6,544 MW of power generation capacity in 33 locations, such as in Thailand, the United States, and China.
On February 26, 2021, J-Power announced its “Blue Mission 2050,” along with its goals to reduce 40% of carbon emission by 2030 compared to three-year average of actual emissions in 2017-2019, and to reach net-zero (carbon neutrality) by 2050. The roadmap includes transition from coal to carbon-free hydrogen, development of renewable power, development of nuclear power as carbon-free source, and expansion of power grid as Japan’s core infrastructure.
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, regarding Enviva’s future financial performance, as well as 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wemade Holds Spectacular Event to Celebrate 100 Days Since Global Launch of MIR430.11.2021 05:34:00 EET | Press release
Wemade’s masterpiece mobile MMORPG ‘MIR4’ will hold a spectacular event starting on November 30th, to celebrate the 100th day of its global release. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211129005798/en/ Wemade’s masterpiece mobile MMORPG ‘MIR4’ holds a spectacular event starting on November 30th, to celebrate the 100th day of its global release. It will be held for two weeks and special rewards will be given including Divine Dragon’s Blessing, Enhancement Stones, Summoning Tickets, and a special box containing various materials. While hunting monsters on the Mir continent, players can obtain Dragon Fruits. In addition, Wayfarer Travel tickets will be updated that allow for transfers to a different server. New Spirits will also be updated including Bloodtip Drago, a legendary-grade fire element Spirit, and Leocrat Khun, an epic-grade earth element Spirit. To commemorate the release of new spirits, a Spirit Special S
LabGenius Appoints Dr. Gino Van Heeke as Chief Scientific Officer30.11.2021 03:00:00 EET | Press release
LabGenius, the machine learning (ML)-driven protein engineering company, today announced the appointment of Gino Van Heeke Ph.D. as Chief Scientific Officer (CSO). In this role, Gino will leverage his wealth of drug discovery and development experience to direct LabGenius’ scientific strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211129005436/en/ Dr. Gino Van Heeke Appointed as LabGenius' CSO (Photo: Business Wire) “I’m extremely pleased to welcome Gino to the company as CSO,” said Dr. James Field, Founder and CEO of LabGenius. “Gino is an accomplished scientific leader with an impressive track record of successfully advancing drug candidates into pre-clinical and clinical development.” Gino joins LabGenius from Engitix Therapeutics, where, as CSO, he established a portfolio of projects and initiated the company’s first drug discovery campaign. Before this, Gino was Senior Director, Discovery and Early Development
InVeris Training Solutions Unveils SRCE™ – a Revolutionary, Augmented Reality Training System29.11.2021 22:00:00 EET | Press release
InVeris Training Solutions, the leading provider of integrated live-fire and virtual weapons training systems for military, law enforcement agencies and commercial shooting ranges, today unveils SRCE™ (See, Rehearse, Collectively Experience or "Source"), a groundbreaking, augmented reality-based, untethered weapons training simulator. InVeris Training Solutions provides the most advanced augmented reality technology available in a military and law enforcement training simulator, a feat previously thought to be years away by many in the industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211129005628/en/ SRCE is the only untethered AR training solution on the market—allowing up to 4 participants to train with simulated weapons and tactical gear. (Photo: Business Wire) "Augmented reality delivers the best of the virtual and real worlds in a way that's fully lifelike, seamless, customizable and economical," said InVeris CE
Verimatrix Launches Streamkeeper To Offer Industry’s First Battle-Ready Cybersecurity Solution Engineered to Hunt Down and Take Out Video Piracy29.11.2021 19:45:00 EET | Press release
Regulatory News: Verimatrix, (Euronext Paris: VMX) (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced the launch of its new Verimatrix StreamkeeperSM solution, a cybersecurity and anti-piracy gamechanger for the media & entertainment industry. Streamkeeper empowers customers to hunt down and take out OTT pirates who steal content such as live sports and premium movie as they are distributed from the source to the endpoint (mobile app/user level). The solution includes Verimatrix's all-new CounterspySM technology -- the autonomous injection of an anti-piracy and app protection security agent that utilizes the company’s proprietary zero code technology which allows customers to add deep, defensive countermeasures, plus monitor their clients without the hassle of a huge integration effort. Integration efforts have also been reduced dramatically, from months to minutes, accompanying numerous operator benefits ranging from a reducti
Introducing ThreatConnect 6.4 - Improving Threat Intelligence Processes and SOC Metrics29.11.2021 19:31:00 EET | Press release
ThreatConnect Inc.®, the leader in enabling a risk led and intelligence-driven security is announcing ThreatConnect 6.4, which introduces new capabilities that allow security operations and cyber threat intelligence (CTI) analysts to get useful context faster during investigations and to better measure team efficiencies. ThreatConnect combines its Threat Intelligence Platform (TIP) and Security Orchestration and Automation platform (SOAR), creating a continuous feedback loop that helps make Intelligence-Driven Operations a reality. This latest product release builds upon the foundation of Intelligence-Driven Operations, empowering the workflow of threat intelligence and security operations teams individually and together. The 6.4 release helps CTI and security operations center (SOC) teams get more context quickly, enabling faster investigations for both. CTI teams are enabled to more easily build and maintain a dynamic threat library, while updated dashboards allow SOC and IR leaders
ESI Group Unveils Its New Leadership Team29.11.2021 19:00:00 EET | Press release
Regulatory News: ESI Group (ISIN Code: FR0004110310, Symbol: ESI) (Paris:ESI) announces today the completion of its new leadership team from seasoned professionals from the current organization and the appointment of Ajit Gokhale as Executive Vice-president Engineering. Cristel de Rouvray, Chief Executive Officer of ESI Group says: "With the release of our “OneESI 2024 – Focus to Grow” plan two months ago, we are engaged in a profound transformation. To lead our Group and this transformational effort, I can count on the full support of my new Leadership Team which is composed of nine impressive, complementary and highly experienced individuals. I’m also proud to welcome in our team Ajit Gokhale who will play a key role in our organization and more specifically in our software engineering strategy and execution. Together, we are entirely committed to bring our company to the next level and to transform it as one of the key leading software partners for industry.” Creation of a new leade
Gilead and AWS Collaborate on Development and Delivery of New Medicines for Patients29.11.2021 17:00:00 EET | Press release
Today, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced that Gilead Sciences, Inc. (Nasdaq: GILD), a biopharmaceutical company advancing innovative medicines to prevent and treat life-threatening diseases, has selected AWS as its preferred cloud provider. Innovating on AWS and with the help of AWS experts and partners in healthcare and life sciences, Gilead provides its data scientists with the latest advances in machine learning and analytics. These capabilities fuel data-driven decision making across the organization—from biomarker discovery through manufacturing and clinical trial recruitment—and deliver insights that can help Gilead refine its drug pipeline. The company also relies on AWS to host all workloads for its enterprise resource planning (ERP) transformation project to implement SAP S/4HANA. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211129005047/en/ “With AWS as our pre
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom