OneFortyOne Invests $30m in Renewable Energy Projects

• OneFortyOne launches a $30 million power generation project.
• The Jubilee Sawmill turns wood waste into enough electricity to run the plant.
• The investments highlight the company's sustainability and innovation.

OneFortyOne, a company that manages forests and sawmills in New Zealand and Australia, has announced c.$30 million investment in a renewable biomass power generation project at their Jubilee Sawmill.

This project will cost about a total of $90 million, which facilitates the production of electricity from biomass with the help of a new boiler and steam turbine.

The company's Jubilee Swamill has been operating for almost 70 years. The new turbine can generate more than enough electricity to power the entire sawmill.

Any surplus electricity could be used in the local power grid or to operate equipment like forklifts and trucks at the site.

Wendy Norris, the CEO, said the investment would help the company update their sawmill's ageing boiler, reduce carbon emissions, and generate electricity from biomass, which is an organic material.

Peter Malinauskas MP, Premier of South Australia, said: “This investment into one of South Australia’s most significant industries is exciting for our State. This is a welcome announcement, which means longevity of technology, reduced carbon emissions and renewable energy going back into the grid.”

Overall, the investment, in this renewable power project at the Jubilee Sawmill will reduce the company's carbon footprint and improve their energy efficiency.

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Source: OneFortyOne