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Bethesda biofuel company Enviva raises ‘substantial doubt’ about ability to stay in business

November 14, 2023

Bethesda biofuel producer Enviva Inc. (NYSE: EVA) has warned investors that it may not be able to stay in business after it suffered steep losses in the third quarter and projected even greater losses this quarter. The 19-year-old company, which manufactures energy-producing wood pellets from trees, shrubs and other woody biomass, reported a net loss of $85.2 million in the quarter, compared to a loss of $18.3 million in last year’s third quarter, due to a combination of rising costs and rapidly falling prices for its wood pellets.

Article Source: Washington Business Journal

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