Business Wire

Enviva Completes Corporate Conversion

Share

Enviva Inc. (NYSE: EVA) (“Enviva”) today announced that on December 31, 2021 its conversion from a master limited partnership named Enviva Partners, LP to a corporation named Enviva Inc. (the “Conversion”) was completed. As previously announced, the Conversion was approved by Enviva’s unitholders on December 17, 2021.

As part of the Conversion, each outstanding limited partnership unit was exchanged for one share of Enviva Inc. common stock. Enviva’s common stock is traded on the New York Stock Exchange under the same “EVA” ticker symbol, with January 3, 2022 being its first trading day.

Following the Conversion, quarterly distributions will be considered dividends for U.S. tax purposes and shareholders will receive a Form 1099-DIV. Consistent with previously provided dividend guidance, Enviva expects to issue a dividend of $0.905 per common share on a quarterly basis for 2022, aggregating to $3.62 per common share for full-year 2022.

“Today represents an important milestone for Enviva as we complete the evolution of our same great business into an even better corporate structure,” said John Keppler, Chairman and Chief Executive Officer. “This conversion creates an opportunity for investors worldwide to participate in the significant accretion we see ahead of us, whether by directly investing in Enviva Inc. or investing passively through one of the many indices for which we are now eligible.”

Keppler continued, “We believe the potential growth ahead for our renewable product is exponential, as we continue to facilitate the energy transition and help difficult-to-decarbonize industries become less greenhouse gas-intensive and more sustainable. We have built a company that delivers real climate change benefits, today, at scale. With our new corporate structure, we have taken another meaningful stride forward in being a leader in every critical ESG metric.”

About Enviva

Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten 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. Enviva sells most 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, 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, 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.

Contact information

INVESTOR CONTACT:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
Investor.Relations@envivabiomass.com

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

Megaport Announces Expansion to Mexico, Bringing Network as a Service (NaaS) and Direct Access to Leading Cloud Services to KIO Networks17.1.2022 00:00:00 EET | Press release

Megaport Limited (ASX: MP1) ("Megaport"), a global leading Network as a Service (NaaS) provider, today announces plans to expand services to Mexico via a partnership with KIO Networks, the country’s largest data centre provider. Cloud connectivity services to Microsoft Azure and Google Cloud are expected to be available in March 2022 to local enterprises via on-ramps from KIO Networks’ data centres in Mexico City and Queretaro, subject to approvals. Customers of KIO Networks in Mexico will be able to access Megaport’s leading ecosystem of more than 700 enabled data centres worldwide and over 360 service providers, including 230+ cloud on-ramps from the world's leading clouds such as AWS, Google Cloud, Microsoft Azure, IBM Cloud, and Oracle Cloud. Businesses in Mexico can seamlessly and directly connect to cloud and IT services on a global level without the need to manage complex network infrastructure. According to IDC, Mexico is the second largest market in Latin America when it comes

Hanshow Makes US Market Debut at 2022 NRF Big Show14.1.2022 23:00:00 EET | Press release

Global digital retail solutions provider Hanshow is making its US market debut this week at the annual NRF Big Show in New York where it’s showcasing a series of new products, announcements, and partnerships. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220114005005/en/ 2022 NRF venue, the Javits Center in New York (Photo: Business Wire) Hanshow was founded ten years ago with an initial focus on just electronic shelf labels (ESL). After often triple digit annual growth, expansion across Europe, Asia Pacific and 50 countries around the world, the company is now bringing its impressive suite of digital retail solutions to the world’s largest retail market. Now after a decade of tested results with some of the world’s leading retailers including Auchan, Ahold Delhaize, Yamada Denki and many more, Hanshow believes it has the solutions US retailers need to evolve and thrive in this period of uncertainty for the retail. The comp

CI&T Acquires Somo to Accelerate Its Growth in EMEA14.1.2022 20:27:00 EET | Press release

CI&T (NYSE: CINT), a global digital specialist, announces today the execution of a sale and purchase agreement to acquire Somo Global Ltd ("Somo"), an award-winning digital product agency headquartered in the UK, to accelerate its growth in EMEA, the second-largest market for digital services. In this strategic move, Somo will join CI&T’s EMEA operation and enhance its growing operations by adding almost 300 digital specialists with deep expertise in digital products, working with some of the world’s largest brands including Audi, Vanguard, Vodafone and Virgin Media, among others. Somo is one of the UK’s leading independent digital product agencies, recognized by Econsultancy's prestigious Top 100 ranking (2019). With offices in the UK, USA and Colombia, Somo delivers digital ambitions at pace and scale across several verticals including automotive, financial services, utilities and telecom. Its strong leadership team brings a proven track record of delivering business performance, win

Alpha Blue Ocean Announces the Launch of WiSeSat by WiSeKey on the Space X’s Transporter 3 mission14.1.2022 18:00:00 EET | Press release

Alpha Blue Ocean, the family office founded by Pierre Vannineuse and financial partner of WISeKey (Tickers: SW: WIHN and US: WKEY), announces the new technological breakthrough of the Swiss group led by Carlos Creus Moreira. On January 13, 2022, WISeKey launched the audacious project to generate the first NFT from space... On January 13, 2021, WISeKey launched its first WISeSat pico satellite via SpaceX's (*) Falcon 9 rocket as part of the Transporter 3 mission to generate the first NFT from space. The NFT will be captured by the WISeSat satellite station in La Linea in south of Spain and minted on WISe.ART NFT Marketplace. Pierre Vannineuse founder and CIO of Alpha Blue Ocean said “Alpha Blue Ocean would like to praise this technological hardware and software achievement by WISeKey's teams. It will allow the NFT ecosystem to evolve towards a truly global constellation by generating the first NFT from space! We are over the moon to have participated in the financing of WISeKey in order

pmdtechnologies Announces Second Generation 3D ToF Depth-Sensing Development Kit14.1.2022 17:00:00 EET | Press release

Today, pmdtechnologies ag is announcing the next generation of its 3D Time-of-Flight Development Kit, the “flexx2”. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220112005533/en/ Next-generation 3D Time-of-Flight Development Kit for prototyping, research, and mass production. (Graphic: Business Wire) Working in Partnership with Emcraft Systems, a California based provider of hardware and software solutions for embedded applications, the flexx2 has been upgraded from the market-leading “PicoFlexx” to deliver even better depth-sensing performance with 38,000 3D pixels and a 56 x 44 degree Field-of-View, all in the size of a pack of chewing gum at 72.1mm x 19.2mm x 10.2mm. The VCSEL emitter has been upgraded from 850-nanometer to 940-nanometer wavelength to further increase sunlight robustness and outdoor performance. Additionally the USB-A port was replaced by a more robust USB 3.0 type C port. Multiple new built-in user mode

Rubicon Advises Elgin Energy on the Sale of the UK’s Largest Portfolio of Solar PV Projects14.1.2022 14:50:00 EET | Press release

Rubicon Capital Advisors (“Rubicon”), one of the world’s leading investment banking firms focused on the broader infrastructure, energy and digital sectors, announced its role as exclusive sell-side financial advisor to Elgin Energy Holdings (“Elgin”) in reaching completion on the 100% sale of a 519 MW portfolio of solar PV projects and 70 MW of co-located energy storage capacity (the “Portfolio”) to ScottishPower Renewables (UK) Limited (“Scottish Power”), a wholly-owned subsidiary of global utility Iberdrola Group. The portfolio sale marks the UK’s largest solar PV transaction to date, consisting of 12 projects at the pre-construction stage located across England, Wales and Scotland, with a combined capacity of 519MW. The portfolio also includes a co-located 70MW battery solution that is at an advanced stage of development. “We are delighted to have reached this significant milestone and partnered with Iberdrola / ScottishPower Renewables on this portfolio. We will continue to develo

Florida’s Apis Cor Set to Become 1st 3D Printed Homes Tech Firm to Offer Shares to Public14.1.2022 13:00:00 EET | Press release

Apis Cor, an additive manufacturing firm incorporated in the US State of Florida, has been qualified by the US Securities and Exchange Commission to offer shares to the public – the first company of its kind to do so. The development comes as additive manufacturing (also known as 3D printing) is poised to see exponential growth in the short term, as construction firms begin to adopt 3D-printing technologies on a global scale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220112005677/en/ With the aim of providing affordable housing for the 21st century, Apis Cor vows to reduce home-construction times from three months to a mere five days. (Photo: Business Wire) “This is a truly historic moment,” Apis Cor CEO Anna Cheniuntai says. “Now everyone – even small individual investors – can become part of this exciting new field, which is set to revolutionize the construction industry in the months and years ahead.” Construction Se

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