The Philippine Board of Investments (BOI) has approved the application for registration of Pelletasia Victorias Corporation (Pelletasia) as a new export producer of wood and grass pellets under a non-pioneer status.
The Philippine Board of Investments (BOI) has approved the application for registration of Pelletasia Victorias Corporation (Pelletasia) as a new export producer of wood and grass pellets under a non-pioneer status.
With an annual capacity of around 110 000 tonnes, the PHP 1.479 billion (≈ US$29.7 million) investment project is expected to generate at least 576 in new jobs over the next six years. Pelletasia has already planted Napier grass in its plantation located at Sagay City, Negros Occidental and is set to harvest over 70 hectares (ha) of the total 300 hectares of the plantation by December 2016, commencing the company’s commercial operations.
– The potential benefits of wood and especially Napier grass are not yet fully explored to substantially become alternative fuels and contribute to energy independence. These resources can be grown in abundance as demand of energy pellets is seen to continuously grow, said Ceferino Rodolfo Trade Undersecretary and BOI Managing Head in a statement.
Founded in 2013 by a group of investors from the US, European and Philippines, Pelletasia is a Philippine company established to produce sustainable biomass feedstock for energy and materials. The company currently operates five plantations across the Philippines growing Napier grass (1 625 ha), bamboo (110 ha) and wood (9 750 ha).
– Together with other potential sources of biomass fuels like bamboo and by-products of agricultural crops, these resources are renewable which ensures their continued supply. In essence, this bioenergy initiative is not only for energy, it supports agricultural development by adding value to resources which generally are left in the farm or go into waste, said Undersecretary Rodolfo adding that the project is a good example of how to encourage inclusive growth in rural areas while supporting agricultural development.
According to BOI, the company is eyeing to export the majority of its products to South Korea and Japan although it is also looking at eventually supplying the local market particularly sugar millers in the country who are set to diversify into bio-ethanol production from molasses and sugar.
