Great River Energy is a not-for-profit wholesale electric power cooperative serving 26 member-owner distribution cooperatives and customers. Together, our systems provide reliable, cleaner electricity while maintaining affordable rates for 1.7 million people. Great River Energy is the second largest electric power supplier in Minnesota and one of the largest generation and transmission cooperatives in the nation.
DuraVent is the recognized technological leader in the venting industry. Consistently first to market with new innovations, DuraVent is committed to providing safe and technologically advanced venting.
As part of our commitment to push the industry forward and continue our mission to innovate, DuraVent operates 2 laboratories designed for the research and development of many types of products. The company's research into solving problems with corrosion, installation challenges, and changing regulations has led to several patented venting systems unmatched in the industry today.
DuraVent has 3 manufacturing facilities totaling over 250,000 square feet strategically located in the US and Canada and is able to provide high-quality, low-cost Hearth, Residential HVAC, and Commercial HVAC products with the best lead times in the industry.
Our Vision is to be the leading supplier of biomass products to the global renewable energy market. Pinnacle is the third largest wood pellet producer in the world, producing renewable fuel for electricity generation in the form of industrial wood pellets, which are used by global utilities and large-scale power generators to produce renewable/reliable baseload power. We are a trusted supplier to our customers, who require reliable, high quality fuel supply to maximize utilization of their facilities.
We are committed to our values and proactively look for ways to bring our values to life everyday, everytime, everywhere:
• Seeded through Innovation - Resourcefulness / Stewardship / Excitement
• Energized by People - Commitment / Honour/ Team
• Sustained through Passionate Integrity - Safety / Empathy/ Excellence.
We hold ourselves accountable to our values and are committed to making decisions through this lens.
As one of only three large global suppliers, we operate nine production facilities with a production capacity of 2.2 million metric tons per annum (“MTPA”). We are well-positioned to support growing global demand through new production capacity and the strategic acquisition of existing production facilities. In 2019 we commenced production at the Smithers Facility (125K MTPA) in partnership with West Fraser Timber Co. Ltd. Late 2018, we acquired a 70% interest in the Aliceville Facility (270K MTPA). On June 29, 2018, we commenced commercial production at our wholly owned Entwistle, AB Facility (400K MTPA) and continue to ramp up production.
We have entered into long-term take-or-pay contracts with our customers, where the buyer has an obligation to purchase a fixed quantity of product at specific prices that represent 109% of our production capacity through 2021 and 102% of our production capacity through 2026. As of March 2019 our total Contracted Backlog was $6.4 billion.