A wrong-way wager on the value of wooden pellets has jeopardized America’s greatest exporter of the gasoline, regardless that demand has by no means been increased among the many European and Asia energy crops burning wooden as an alternative of coal.
Enviva mentioned its gambit to purchase pellets from a buyer, and resell them for extra, backfired when costs fell, and that nine-figure losses may set off a default with its lenders by year-end.
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