Wood Fuel Developers LLC, an affiliate of Industrial TurnAround Corp., is developing two wood pellet facilities in Virginia, having received multiple grants.
The company announced its plans for Greensville County in January of 2010, armed with more than $3.5 million in federal and state funds, and planning to invest $18.7 million itself, according to ITAC. The company reported that the project received $1 million from the American Recovery and Reinvestment Act, along with $2.3 million from the Greensville County Industrial Development Authority for construction of the plant and site improvements and infrastructure, $175,000 from the Governors Opportunity Fund and $175,000 from Tobacco Region Opportunity Funds.
Also, in January, Virginia Gov. Bob McDonnell announced a new $8.6 million pellet mill undertaking for Wood Fuel Developers in Sussex County, with another $185,000 in state funds from the governor’s office and Tobacco Region Opportunity Funds. Wood Bioenergy US, a Forisk Consulting report, said the company will convert a former particleboard plant in the Sussex County town of Waverly into a pellet plant.