Verso Launching $43 Million Sustainable Energy Project
June 23, 2010
According to the Memphis Business Journal, Verso Paper Corp. is launching a $43 million project that will allow its mill in Quinnesec, Mich., to use renewable biomass sources to fund 95 percent of its energy needs. Verso is upgrading its combination boiler to burn waste wood sources and it will use a turbine generator to convert the wood into fuel for the plant. The project is expected to be completed by December 2011. The state of Michigan is designating the plant as a Forest Products Processing Renaissance Zone, which will allow Verso to operate the plant free of state and local taxes.