$25 Million Wood Pellet Export Facility Going In At State Port

The State Ports Authority has given the green light for a wood pellet export facility to be built at Morehead City.

WoodFuels, LLC is building the $25 million facility that would receive, store and load the pellets to Europe. There they would be used as a renewable energy source.

The Ports Authority says they expect the first shipment next year and predict yearly revenue for the company to range between $1.2 and $2 million. On average, the deal could bring in $840,000 each year in revenue to the port.

Earlier this year, the authority agreed to allow a similar facility at the state port in Wilmington.