Enviva

Enviva Inc. is the world's largest producer of industrial wood pellets, a renewable and sustainable energy source made from processing wood fiber. The company owns and operates ten plants with a combined annual production capacity of approximately 6.2 million metric tons across Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. It is also constructing its 11th plant in Epes, Alabama.

Enviva primarily sells its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the UK, the European Union, and Japan. Its wood pellets help accelerate the energy transition and decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. The company exports its products to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

Enviva faced a significant financial downturn in 2023, reporting losses of over USD 250 million by November. The company attributed these losses to factors such as high wood fiber procurement costs, asset impairments, and the need to renegotiate customer contracts. As of November 2023, Enviva acknowledged substantial doubt regarding its ability to continue as a going concern.