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Verso launching $43M sustainable energy project at Michigan mill

Monday, June 28, 2010

Press release from the issuing company

Verso Paper Corp. is launching a $43 million project that will allow its mill in Quinnesec, Mich., to use renewable biomass sources to fund 95 percent of its energy needs.

Verso is upgrading its combination boiler to burn waste wood sources and it will use a turbine generator to convert the wood into fuel for the plant. The project is expected to be completed by December 2011.

The state of Michigan is designating the plant as a Forest Products Processing Renaissance Zone, which will allow Verso to operate the plant free of state and local taxes.

"The implementation of the Quinnesec Renewable Energy Project is in alignment with Verso's three-pronged energy strategy, which is to reduce overall energy consumption, generate more green energy from renewable biomass and reduce our carbon footprint, all while reducing costs," Mike Jackson, Verso's president and CEO, said in a statement.




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