Pellet Mill Press - August 16, 2022

House passes Inflation Reduction Act The House on Aug. 12 voted 220 to 207 to pass the Inflation Reduction Act, a legislative package that includes a wide range of provisions that benefit the biofuel and bioenergy industries. President Biden is expected to sign the bill next week. READ MORE SHARE
UK government opens public consultation on BECSS strategy The U.K. government on Aug. 11 launched a consultation on how to support the development of bioenergy carbon capture and storage (BECCS) projects in the U.K. over the next decade. The consulation is open through Oct. 7. READ MORE SHARE
	USDA: US wood pellet exports at 832,092 metric tons in June The U.S. exported 832,092.2 metric tons of wood pellets in June, up from both 740,605 metric tons in May and 603,794.9 metric tons in June 2021, according to data released by the USDA Foreign Agricultural Service on Aug. 4. READ MORE SHARE
Drax to acquire Canadian pellet plant from PSPC Drax Group has signed an agreement with Princeton Standard Pellet Corp. to acquire its pellet plant in Princeton, British Columbia, Canada. The plant, which has been operating since 1995, has the capacity to produce 90,000 metric tons per year. READ MORE SHARE
Enviva announces new contracts, continues to expand capacity Enviva Inc. released second quarter financial results on Aug. 3, reporting increased net revenue for the three-month period. The company also announced four new customer contracts and discussed progress with plans to increase production capacity. READ MORE SHARE
BIC wins $1.8M to support development of biomass standards The Canadian government on Aug. 3 awarded $1.8 million under Agriculture and Agri-Food Canada’s AgriAssurance Program to Bioindustrial Innovation Canada, a nonprofit group that supports the commercialization of sustainable technologies. READ MORE SHARE
Senate passes bill with new SAF, clean fuel, hydrogen tax credits The Senate on Aug. 7 passed the Inflation Reduction Act of 2022 by a vote of 51 to 50 along party lines. Vice President Kamala Harris cast the tie-breaking vote. The bill includes a range of provisions benefiting biofuel and bioenergy prodcution. READ MORE SHARE
EIA: Densified biomass fuel sales at 680,000 tons in April The U.S. Energy Information Administration recently released data showing U.S. manufacturers produced approximately 850,000 tons of densified biomass fuel in April, with sales reaching 680,000 tons. READ MORE SHARE
UK funds biomass feedstock, biobased hydrogen projects The U.K. government on Aug. 4 awarded £32 million to 12 projects that aim to increase production of sustainable biomass. An additional £5 million was awarded to 22 projects to support new technologies that generate hydrogen from biomass and waste. READ MORE SHARE
EIA updates bioenergy capacity, production forecasts Renewable electricity is expected to account for 22 percent of U.S. generation this year, increasing to 24 percent in 2023, according to the U.S. Energy Information Administration’s latest Short-Term Energy Outlook, released Aug. 9. READ MORE SHARE