VANCOUVER, May 21, 2019 /CNW/ - Pinnacle Renewable Energy Inc. ("Pinnacle" or the "Company") (TSX: PL) announced today that each of the nominee directors listed in the management information circular of the Company dated April 15, 2019 was elected as a director of the Company (a "Director") at the annual general meeting of the holders of Common Shares of the Company held today (the "Meeting"). The number of Common Shares voted by ballot for the election of each Director or withheld was as indicated below:
Name of Nominee
Final results on all matters voted at the Meeting will be filed with the Canadian securities regulatory authorities and will be available on the Company's SEDAR profile at www.sedar.com.
Pinnacle is a rapidly 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, and 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 109% of its production capacity through 2021 and nearly 109% of its production capacity through 2026.
SOURCE Pinnacle Renewable Energy Inc.
Pinnacle currently operates eight wood pellet production facilities throughout western Canada, and one production facility in Alabama. Pinnacle’s Canadian production facilities are all located on major rail lines allowing for efficient rail transport to one of two ocean shipping terminals on the B.C. coast: Pinnacle’s wholly-owned Westview terminal in Prince Rupert, and the Fibreco Terminal at the Port of Vancouver. The Alabama production facility utilizes inland waterways to cost-effectively transport pellets for ocean shipping via the Port of Mobile on the U.S. Gulf Coast.