The financing of Coega Biomass Center has formally been completed. On April 19, 2023, FinCo, Partners for Innovation and iLive signed all contracts for a strategic partnership. This means that all signals are green to bring the pellet factory in Port Elizabeth (Gqueberha) back into full production.
Coega Biomass Center will produce sustainable pellets and wood chips from residual biomass flows in order to create clean and affordable energy. The factory in Gqueberha on the east coast of South Africa has been partly operational for several months now. The woodchipper is running at full speed and soon the first 10 kton wood chips will be shipped to Europe. The first shipment of pellets is expected before the end of the year.
Impact
The results are already noticeable. At the locations where the Alien Invasive Plants have been cleared, the water system is recovering very quickly and native plants have returned In addition, the entire process from collection to shipping generates many permanent jobs locally. The wood chips and pellets are 100% FSC and SBP certified and meet the highest sustainability standards.
Sustainable and social
For Partners for Innovation, ownership of the pellet factory is a logical next step in the ambition to achieve direct sustainable environmental and socio-economic impacts in addition to providing impactful advice.
As a supplier of sustainable transport fuels, FinCo is committed to reducing CO₂ emissions and improving socio-economic conditions. The pellet mill fits within FinCo’s ambition to play a role in the supply chain of biomass residues.
Coega Biomass Center is for iLive the initiative to change South African lives in the field of sustainable energy and circular economy.