PacBio to Close Wood Pellet Plant in Prince George, BC

Pacific BioEnergy Corporation (PacBio) announced today (12-15-21) that it intends to permanently close their wood pellet plant located in Prince George, B.C. The company says that after satisfying certain closing conditions, which is expected by the end of 2021, certain assets owned by PacBio will be assigned to Pinnacle Renewable Energy Inc. (part of the Drax Group). The official shutdown date will be finalized sometime in early 2022.

PacBio CEO John Stirling stated, “Our Company has been battling several challenges for the past few years. Sawmill closures in the region have reduced the volume of available raw materials and increased their cost significantly.”

Stirling went onto say, “Forest fires, landslides, and floods have severely impacted our ability to transport our product by rail to the export terminal in North Vancouver. The impact has been a significant increase in operating costs. Our sales contracts have been sold to Pinnacle to mitigate the impact on our customers.”

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Original Source:
PacBio announces permanent closure in 2022