Wood Pellet Market Catches Fire Due To European Demand

July 7, 2009 11:17 AM EDT
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According to reports today from the Wall Street Journal, European utilities are turning to U.S manufactures of wood pellets as a renewable energy source to burn alongside coal in existing power plants.

According to the article, utility executives and industry consultants say wood pellets, which are cylinders of dried shredded wood that resemble large vitamins, is the least expensive way to meet European renewable-energy mandates.

Burning the wood pellets, while a pricier fuel than coal, is less-expensive than using windmills or solar panels.

With this news, StreetInsider.com's staff has noticed a few penny stocks that claim they are involved in the wood pellet industry: Green Energy Resources (OTC: GRGR), which announced yesterday it has received two orders worth $28 million over 12 month and Sea 2 Sky Corporation (OTCBB: SSKY) which is also involved in the wood pellets market.

NOTE: If you see any other U.S. traded "wood pellet" companies please let us know info@streetinsider.com

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