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Northeast Wood Products purchases Pennington Seed pellet mills

By Erin Voegele | June 06, 2014

Northeast Wood Products LLC has acquired Pennington Seed Co.’s 65,000-metric-ton-per year pellet plant in Peebles, Ohio, and related equipment and assets at the company’s Kenbridge, Virginia, facility. Northeast Wood Products is also in the process of acquiring Pennington’s 65,000-metric-ton-per-year pellet plant in Ligonier, Indiana.

Guy Mozzicato, president of Northeast Wood Products, said the facilities have been idle for more than two years. The company is currently working to ready the Ohio plant for operations. That facility is expected to be operational my mid-July. The Indiana plant is currently scheduled to begin operations by the end of August. Assets acquired from Pennington’s Virginia facility will be transferred to either the Ohio location, the Indiana plant, or a separate facility acquired by Northeast Wood Products a later date.

“We expect to grow at a fairly rapid pace,” Mozzicato said, noting the company is currently expecting to acquire another 85,000-metric-ton-per-year pellet plant later this summer. That purchase could be finalized within weeks, he said.

Once operational, Northeast Wood Products plans to take in sawdust and other wood waste as feedstock for pellet production. While it is possible the company may elect to use other feedstocks in the future, it currently intends to focus on the use of waste materials.

According to Mozzicato, Northeast Wood Products currently expects to provide product to both domestic and international markets. The company has already received positive feedback from domestic consumers and distributors, he said.

Information released by the company indicates the company’s primary pellet product will be sold under the ThermaGlo trade name. The product is a premium certified wood fiber pellet featuring low ash and high BTU ratings. It is available in 40-pound and 15-kilogram bags for home use, and in bulk loads for industrial customers. Container shipments are also available for international markets.

 “ThermaGlo will meet or exceed both PFI & ENplus A1 certifications, the most stringent in the industry,” said Michael Reid, senior vice president of business development.

Northeast Wood Products is a newly formed company of the Mohegan tribe of Connecticut, which prioritizes investments in enterprises that have positive environmental impacts. “The wood pellet venture creates fuel from a renewable resource,” said a tribal spokesman. “It fits our eco-friendly investment model.”

 

 

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