Wood Pellet Exporter Signs Lease at Portsmouth Marine Terminal

Wood Pellet Exporter Signs Lease at Portsmouth Marine Terminal

Virginia Port Authority today approved a 20-year lease with its first tenant at Portsmouth Marine Terminal, ecoFUELS Pellet Storage LLC, a Virginia-based company that exports wood pellets to Europe, to occupy about 15 acres.

PMT, which has been idle since container operations were moved to APM Terminals in January 2011, will handle pellet operations for the biomass trade to Europe, “which has tremendous export growth potential,” said Terry McAuliffe of ecoFUELS.

The terminal will be designed to handle a minimum throughput of 1.2 million tons of pellets, but could be expanded further.