Westervelt Pellets

Aliceville, AL – Westervelt Company received $55.5 million in NMTC from WNC and Associates, Wells Fargo Bank N.A., Rural Development Partners and CEI for the Westervelt Pellet project to construct a $71 million wood pellet manufacturing facility. Wood pellets burn with a carbon footprint significantly less than that produced by burning coal, making it a sought-after renewable energy source. Development of the facility has created over 669 temporary construction jobs and 273 permanent jobs in an area with a local poverty rate of 27 percent. The facility was completed in 2013 and is expected to generate more than $37 million annually in revenue from the sale of wood pellets, increasing business for local timber and trucking companies.