The initial joint venture (JV) agreement was made with Georgia-based Fulghum Fibers, Inc. the leading provider of high quality wood chips and other services in the pulp and paper industries in the U.S., South America and Asia.
In May 2013, Rentech, Inc., a large U.S.- based company that owns and operates wood fibre and nitrogen fertilizer businesses, announced the acquisition of Fulghum Fibres, Inc. In connection with the acquisition AS Graanul Invest entered into a joint venture agreement with Rentech, Inc. for development, investment and construction of pellet plants in the U.S. and Canada.
The joint venture is an equal equity partnership between Rentech and Graanul Invest to develop and build wood pellet facilities in the U.S. and Canada. Under the joint venture, Graanul Invest will provide EPC services to projects developed by the joint venture.
AS Graanul Invest will also provide marketing services for excess pellets produced by the JV, and allow the JV to acquire pellets from Graanul Invest´s European plants in the event the JV needs to supplement pellet supplies.
Graanul Invest is a privately owned company, established in 2003, and operates in the fields of forestry, development of bioenergy and production of renewable energy. Graanul Invest group includes 6 large and modern pellet factories, two sales organisations, two combined heat and power plants (CHP plants) and one company engaged in forest management and havesting.
