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Columbia Pulp to set up new manufacturing facility in Washington, USA
Columbia Pulp is expected to start the construction of a new manufacturing facility in Washington, USA, in August 2017. The facility will be equipped with Sustainable Fibers Technology’s (SFT) process of converting wheat straw and seed alfalfa straw into pulp.
“We have assembled a talented team that has spent their careers in pulp and paper production and financial management. The SFT proprietary pulping process is the first in North America that produces market pulp equal to the quality of hardwood pulp, while requiring less capital investment and utilizing less energy, water and chemicals compared to traditional pulping methods, said, Columbia Pulp, CEO, John Begley.
The mill, worth approximately USD 184 million, is expected to produce 149,000 tons of market pulp and 95,000 tons of a carbohydrate-lignin co-product annually.
“By capturing straw that is often burned as waste and using it in the manufacture of tree-free products, Columbia Pulp is bringing sustainable industry to rural Washington while reducing greenhouse gas emissions and the demand for trees in pulp production,” added Begley.
Columbia Pulp has received financial support from institutions such as Washington Economic Development Finance Authority (WEDFA) and Columbia Ventures Corporation (CVC). The WEDFA has recently completed its offering of USD 133,600,000 in tax exempt bonds to finance the project. CVC is the lead investor in the USD 36 million equity financing secured simultaneously with the bond offering.
The construction of the new facility is expected to be completed in late 2018.
By: Omkar Khalap