VANCOUVER, April 21, 2020 - Pinnacle Renewable Energy ("Pinnacle" or the "Company") (TSX: PL) today announced the appointment of Mr. Duncan Davies to the Company's board of directors (the "Board"), effective April 21, 2020.
From 2000 to 2019 Mr. Davies served as the President and Chief Executive Officer of Interfor Corporation, a growth-oriented forest products company with operations in Canada and the United States. In his role he led the transformation of Interfor from a small regional producer, located primarily on the B.C. Coast, into one of the largest lumber companies in the world.
"Duncan is a seasoned leader with extensive knowledge and experience in the international forest products market," commented Gregory Baylin, Chair of the Board. "He has had an accomplished career, is well respected in the industry and we welcome his wealth of strategic, governance, and financial leadership to further broaden the Board."
Mr. Davies currently serves as the Vice Chair of the Binational Softwood Lumber Council. He was previously Co-Chair of the B.C. Lumber Trade Council and the Canadian Lumber Trade Alliance and a Director of the Council of Forest Industries of B.C. He was also one of the founding members of the Softwood Lumber Board.
Mr. Davies holds a Bachelor of Arts (Economics) from the University of Victoria and a Master of Science (Forestry Economics) from the University of British Columbia.
Pinnacle is a growing industrial wood pellet manufacturer and distributor and the third largest producer in the world. The Company produces sustainable fuel for renewable electricity generation in the form of industrial wood pellets. This fuel is used by large-scale thermal power generators as a greener alternative to produce reliable baseload renewable power. Pinnacle is a trusted supplier to its customers, who require reliable, high-quality fuel supply to maximize utilization of their facilities. Pinnacle takes pride in its industry leading safety practices. The Company operates eight industrial wood pellet production facilities in western Canada and one in Alabama, with two additional facilities under construction in Alberta and Alabama. The Company also owns a port terminal in Prince Rupert, B.C. Pinnacle has entered into long-term take-or-pay contracts with utilities in the U.K., Europe and Asia that represent an average of 99% of its production capacity through 2026.
Source : Pinnacle Renewable Energy Inc.