Enviva completes its business conversion | News

BETHESDA, Maryland – (BUSINESS WIRE) – January 3, 2022–

Enviva Inc. (NYSE: EVA) (“Enviva”) today announced that, on December 31, 2021, its conversion from a master limited partnership named Enviva Partners, LP to a company named Enviva Inc. (the “Conversion “) Was completed. As previously announced, the conversion was approved by Unitholders of Enviva on December 17, 2021.

As part of the conversion, each outstanding limited partnership unit was exchanged for one common share of Enviva Inc. The common shares of Enviva are traded on the New York Stock Exchange under the same ticker symbol “EVA” , January 3, 2022 being its first trading day.

After the Conversion, quarterly distributions will be treated as dividends for US tax purposes and shareholders will receive a Form 1099-DIV. Consistent with previously provided dividend forecasts, Enviva expects to issue a dividend of $ 0.905 per common share on a quarterly basis for 2022, totaling $ 3.62 per common share for fiscal 2022.

“Today marks a significant milestone for Enviva as we complete the evolution of our same large company into an even better corporate structure,” said John Keppler, President and CEO. “This conversion creates an opportunity for investors around the world to participate in the significant increase that we see ahead of us, whether by investing directly in Enviva Inc. or by investing passively through one of the many indices we are now at. eligible. “

Keppler continued, “We believe the future growth potential for our renewable product is exponential, as we continue to facilitate the energy transition and help hard-to-decarbonize industries to become less greenhouse gas-intensive and more sustainable. . We have built a business that delivers real benefits from climate change today at scale. With our new corporate structure, we have taken another significant step forward to become a leader in all critical ESG parameters. “

About Enviva

Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and transforming it into a transportable form, the Pellets. Enviva owns and operates ten factories with a combined production capacity of approximately 6.2 million metric tonnes per year in Virginia, North Carolina, South Carolina, Georgia, Florida and Mississippi. Enviva sells most of its wood pellets under long-term firm purchase contracts with solvent customers in the United Kingdom, the European Union and Japan, thus helping to accelerate the energy transition and decarbonise products difficult to reduce. sectors such as steel, cement, lime, chemicals and aviation fuels. Enviva exports its wood pellets to global markets through its deepwater marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and to from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama and Panama City, Florida.

To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.

Caution regarding forward-looking statements

The information included in this document and in any oral statement made hereunder includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the future financial performance of Enviva, as well as the strategy, future operations, financial condition, estimated revenues and losses, projected costs , the outlook, plans and goals of Enviva’s management are eye-catching statements. When used herein, including any oral statement made in connection therewith, the words “could”, “should”, “should”, “could”, “believe”, “anticipate”, “intend” de “,” estimate “,” expect, “” project “, the negative of these terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words of identification. These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on information currently available as to the outcome and timing of future events. Except as otherwise provided by applicable law, Enviva disclaims any obligation to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and many of which are beyond Enviva’s control.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220103005093/en/


Kate walsh

Vice-President, Investor Relations

+1 240-482-3856




SOURCE: Enviva Inc.

Copyright Business Wire 2022.

PUB: 03/01/2022 06: 00 / DISC: 03/01/2022 06:02


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