SaraRasa signs an agreement to purchase pellets until December
Dovre Group Plc Press release October 14, 2022, 1 p.m.
SaraRasa signs an agreement to purchase pellets until December 2024
SaraRasa Bioindo Pte. has agreed with Cellmark Ab to supply the majority of its pellet production for a period of two years starting in December 2022 and ending in December 2024 for the Korean market using Cellmark’s services. The deal is at a fixed price and the contract is valued at around 14 million euros. This new off-take agreement replaces the previous agreement announced on July 25, 2019 between the same parties.
“This long-term contract gives SaraRasa the financial security needed to expand its capacity. Cellmark has been our business partner for already six years and we are convinced that they are also suitable for us in the biomass industry in the future,” said SaraRasa Director Mr. Ilari Koskelo.
Dovre Group Plc owns 19.9% of SaraRasa shares and presents the property as a financial asset at fair value through profit or loss.
For more information, please contact:
SaraRasa Bioindo Pte. ltd.
Ilari Koskelo, Director
Dovre Group is a global provider of project management services. The Dovre Group has three areas of activity: project personnel, consultancy and renewable energy. Dovre Group has offices in Canada, Finland, Norway, Singapore and the United States, and employs nearly 800 people worldwide. Dovre Group is listed on Nasdaq Helsinki (symbol: DOV1V). Website: www.dovregroup.com
SaraRasa Bioindo Pte. ltd., a pellet producer using residual materials from the woodworking industries, owns and operates a production of wood pellets factory in Surabaya, Indonesia. Major shareholders of SaraRasa are Navdata Oy, Dovre Group Plc and Finnfund.
Cell Mark AB is a global supply chain services company. Founded in 1984 in Gothenburg, Sweden, CellMark has its roots in the international trade and distribution of raw materials related to the global pulp and paper industry. Today, CellMark has seven divisions. Its Energy division promotes the production, trade and proliferation of alternative energy fuels from biomass and other waste-to-energy products for more environmentally friendly materials for heat and electricity. CellMark annual sales are in USD 3.7 billion. www.cellmark.com