Enviva Partners, LP Reports Limited Damage From Hurricane Michael
BETHESDA, Md.–(BUSINESS WIRE)–Enviva Partners, LP (NYSE: EVA) (the “Partnership”) today reported that
its facilities incurred only limited damage from Hurricane Michael.
The Partnership undertook substantial preparation in advance of
Hurricane Michael’s landfall to keep employees safe and minimize
disruption, including proactively idling operations at its wood pellet
production plant in Jackson County, Florida (the “Cottondale plant”) and
a third-party deep-water marine terminal in Panama City, Florida (the
“Panama City terminal”). Based on initial assessments, the Cottondale
plant did not incur substantial wind or water damage. Although the
Partnership does not own material infrastructure assets at the Panama
City terminal, a small portion of the roof on its contracted storage
warehouse will need to be replaced and an estimated 5,000 tons of wood
pellet inventory stored at the terminal appear to have been damaged by
wind and rain. The Partnership’s production facilities and inventory are
insured under a comprehensive insurance program.
The Cottondale plant is prepared to return to operations once power is
restored to the site, which is expected to occur within the next week.
Although the Port of Panama City remains closed, the Partnership is
making arrangements to transport wood pellets from the Cottondale plant
to other terminals. As a result, the Partnership expects Hurricane
Michael to temporarily delay portions of its shipping schedule. The
Partnership will continue to assess any impact on ship timing and
operations as the region recovers.
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited
partnership that aggregates a natural resource, wood fiber, and
processes it into a transportable form, wood pellets. The Partnership
sells a significant majority of its wood pellets through long-term,
take-or-pay agreements with creditworthy customers in the United Kingdom
and Europe. The Partnership owns and operates six plants with a combined
production capacity of nearly three million metric tons of wood pellets
per year in Virginia, North Carolina, Mississippi, and Florida. In
addition, the Partnership exports wood pellets through its owned marine
terminal assets at the Port of Chesapeake, Virginia, and the Port of
Wilmington, North Carolina and from third-party marine terminals in
Mobile, Alabama and Panama City, Florida.
To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com.
Cautionary Note Concerning Forward-Looking Statements
Certain statements and information in this press release, including
those concerning our expectation of the impact of Hurricane Michael on
our operations, may constitute “forward-looking statements.” The words
“believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,”
“should,” “would,” “could,” or other similar expressions are intended to
identify forward-looking statements, which are generally not historical
in nature. These forward-looking statements are based on our current
expectations and beliefs concerning future developments and their
potential effects. Although management believes that these
forward-looking statements are reasonable when made, there can be no
assurance that future developments will be those that management
anticipates. These forward-looking statements involve significant risks
and uncertainties (some of which are beyond our control) and assumptions
that could cause actual results to differ materially from our historical
experience and our present expectations or projections.