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International Paper & GreenWood Resources to Develop Europe’s Biggest Biomass Plantation

Wed, 04/18/2012

International Paper

IP BELGIAN SERVICES COMPANY SPRL CHAUSSEE DE LA HULPE 166
1170 BRUSSELS, BELGIUM
TEL.: +32 (0) 2 774 1211
Media Contact: David Higgins +32 2 774 1217

News Release

International Paper & GreenWood Resources to Develop Europe’s Biggest Biomass Plantation

Brussels Belgium, – March 19th, 2012 – International Paper has signed an agreement with GreenWood Resources to develop a biomass plantation in Pomerania, Poland which will be the largest of its kind in Europe. GreenWood Resources (GWR) Poland will manage the project in cooperation with local farmers, leasing lands from them for the energy tree farm. Planting is expected to commence in the coming months and first harvests are expected in four years time.

Announcing the agreement, Eric Chartrain, International Paper’s Vice President of European Papers, said: “As a proud steward of the environment and pioneer investor in Poland, International Paper has a long tradition of providing green jobs using renewable resources. The agreement will enable us to develop a fully integrated biomass supply system helping Poland deliver on renewable energy targets while simultaneously offering a valuable boost in jobs and prosperity for the local farming community.”

Welcoming the news, Marcin Korolec, Minister for the Environment in Poland said: “I am very proud that Poland was chosen for this flagship investment. I am convinced that it will be a prime example of activities enabling us to meet our ambitious European renewable energy goals and providing biomass for the paper industry. Initiatives like this will create new green jobs and simultaneously contribute to strengthening the environment and biodiversity. The complementary objectives of environmental protection and economic development are at the heart of the Polish Government’s policies.”

Today’s announcement follows a successful pilot project that was managed for International Paper by GreenWood Resources Poland using fast growing, short rotation hybrid poplar as the biomass crop. The full-scale roll-out involves leasing land from local farmers to grow the biomass crop in three and four year rotations. The approach offers local farmers more crop options and can improve the utilization rate of the land while securing jobs in the farming community by providing a welcome financial boost to their existing incomes.

Commenting on his company’s involvement in the agreement, Jake Eaton, Managing Director, GreenWood Resources Europe, said: “This is a milestone day for
GreenWood Resources and our subsidiaries GWR Europe and GWR Poland. We are excited to be partnering with International Paper on what will be the largest dedicated energy tree farm in Europe and we are excited to be starting our European business in Poland. Together, GWR and IP are supporting rural economic development through the establishment of this renewable energy crop.”

Eaton went on to say, “We believe hybrid poplar is the ideal feedstock to provide fuel for combined heat and power stations. It is sustainable and provides a realistic economic fuel to meet Poland’s renewable energy targets. GWR has a great depth of experience in the production of poplar for energy, paper, and lumber and the agreement with International Paper is the first of many that GWR plans to execute with partners throughout Europe.”

Current supplies of biomass in Poland are not sufficient to support the increasing demand from industry due to EU energy policy targets while existing Polish state policy limits the amount of forest fiber than can be used for biomass. Therefore, a new source of sustainable biomass must be developed to insure a stable supply at a reasonable cost to help Poland deliver on its EU renewable energy targets.

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About International Paper
International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company’s North American distribution company. Headquartered in Memphis, Tenn., the company employs approximately 70,000 people and is strategically located in more than 24 countries serving customers worldwide. 2011 net sales for International Paper were $26 billion. Temple-Inland Inc., which was acquired in February 2012, had 2011 net sales of $4 billion. For more information about International Paper, its products and stewardship efforts, visit www.internationalpaper.com.

About GreenWood Resources, Inc
GWR, founded in 1998, is a global timberland investment and property management company specializing in the acquisition, development and management of high-yield, short-rotation, sustainable tree farms. GWR specializes in creating value through the integrated deployment of traditionally bred plant material and intensive silvicultural management strategies to achieve superior risk-adjusted returns in selected regions of the world. GWR has close to 100 professionals with offices and field locations in North America, South America, Europe, and Asia (China). GWR currently manages approximately $US 350 million of assets or commitments and is committed to certifying its tree farms under the Forest Stewardship Council (FSC) or equivalent third party audited certification programs. In addition, GWR has been a leader in the research and development of hybrid poplar as one of the key future sustainable feedstocks for bioenergy and biofuels and is leading the way in the development of dedicated energy plantations.

The company is organized in Europe through its subsidiaries GreenWood Resources Europe and GreenWood Resources Poland and will employ local professionals to provide investment and property management services to strategic partners in Europe.
Please visit www.greenwoodresources.com for more information.

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