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Timber management company enters biomass supply realm
Timber management company enters biomass supply realm
COSTA MESA, CA, May 11, 2010 (Business Wire) - JWTR, LLC, a timberland management company based in Klamath Falls, OR, completed a capital raise on March 4, 2010.
McGladrey Capital Markets initiated the transaction, led the negotiations, and acted as exclusive financial advisor to JWTR. McGladrey Capital Markets also advised JWTR on biomass alternatives, including introducing biomass plant developers and advising JWTR on a long-term biomass fuel supply agreement.
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JWTR has entered into a transformational long-term biomass fuel supply agreement to facilitate construction of a new 40 MW biomass power plant. This plant will consume waste from the timber harvesting and forestry management processes, which had previously been burned in the woods.
"This is a transformational period for JWTR as it transitions from a traditional timber company into a renewable energy fuel supplier by capitalizing on its ability to provide attractive volumes of high quality biomass fuel on a long-term basis," said Bruce Manchester, senior managing director and head of McGladrey Capital Markets' Basic Industries Group.
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