Viridis Energy forms subsidiary to broker alternative energy transactions

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Viridis/IHB
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Viridis Energy Inc. has formed a wholly owned subsidiary, Viridis Merchants Inc., to arrange transactions between buyer and sellers of alternative energy, including wood pellets, the company said in a press release.

The Company has hired commodities trading specialist, Jesse Harte as Managing Director, Wholesale division of Viridis Merchants. Doug Middleton, who currently manages the U.S. brokerage business for Viridis, has been appointed Managing Director, Retail division of Viridis Merchants. Christopher Robertson, Viridis’ CEO, will also serve as president of Viridis Merchants.

“The wood pellet industry represents a classic merchandising opportunity in its early stages. Viridis intends to expand its brokerage business, which currently utilizes several third party producers, to include locational differentials, supply and demand imbalances and aggregation opportunities to increase its overall participation,” said Mr. Robertson. “In addition to brokering transactions between buyers and sellers, Viridis intends to augment its production capacity, currently approaching 200,000 tons per year from its Okanagan Pellet and Scotia Atlantic Biomass Companies, with third party suppliers’ products of equal quality to develop additional brands in the residential market.”

Viridis Energy Inc. is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass.

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