--News Direct--
Foresta Group Holdings Ltd (ASX:FGH) CEO Ray Mountfort tells Proactive's Steve Darling the company focuses on sustainability and profitable operations through the innovative use of pine resources in New Zealand. With 1.7 million hectares of pine plantations yielding 33 million tonnes annually, the company extracts valuable resins and terpenes from pine, converting spent wood into torrefied wood pellets.
A recent development includes securing a 9.6-hectare site for manufacturing, underscoring the sustainability of using non-native, farmed pine which absorbs carbon, contributing to environmental benefits.
The company operates across three markets: flavours and fragrances from terpenes, resin-based products like adhesives and chewing gum, and black pellets as a coal replacement, particularly in New Zealand, where coal will be banned by 2037.
Foresta Group's approach not only leverages the multifunctionality of pine but also addresses the demand for sustainable alternatives in various industries, including energy. With solid off-take agreements and a focus on chemical verticals initially, the company plans to commence construction on the new site in late 2024, aiming for production by the end of the following year.
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View source version on newsdirect.com: https://newsdirect.com/news/foresta-group-holdings-innovating-with-pine-for-sustainable-future-400118195
