Bioenergy company Enviva and blockchain firm GoChain partnered for a pilot designed to enhance the traceability of sustainable biomass or more specifically, wood pellets. The pilot is among the largest-scale projects in the biomass industry and its results may provide insights into how to improve Enviva’s existing proprietary Track & Trace system.
The company is the largest producer of industrial wood pellets burned as an energy source to generate electricity and heat, and is a renewable alternative to coal. Enviva is listed on the NYSE with a market capitalization of $1.8 billion. The company is keen to emphasize that it uses low-quality wood that would otherwise be discarded and the forests will be replanted or regenerated.
However, burning wood pellets is not necessarily cleaner than coal. An article from the Yale School of Environment states that “Burning wood pellets releases as much or even more carbon dioxide per unit of energy as burning coal, so in order for burning pellets to be carbon-neutral, the carbon emitted into the atmosphere has to be recaptured in regenerated forests.”
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