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Enviva Inc High Risk Report!
7272 Wisconsin Ave., Suite 1800
Phone: (301) 657-5560p:301 657-5560 BETHESDA, MD  20814  United States Ticker: EVAEVA
Filed for Bankruptcy on 3/12/2024
Case #24-10453, filed in the U.S. Bankruptcy Court for the Eastern District of Virginia (Alexandria)
On February 29, 2024, the management of Enviva Inc. and its Board of Directors concluded that the company’s unaudited Condensed Consolidated Statements of Operations for the first, second, and third quarters of 2023, previously reported in our Quarterly Reports on Form 10-Q for the periods ended March 31, June 30, and September 30, 2023, respectively, should no longer be relied upon. This conclusion was based principally on the need to correct the classification of approximately $33 million recoverable from customers for certain handling costs that the Company incurred at discharge ports for its wood pellet shipments. These amounts affected the restated periods by approximately $6 million, $7 million, and $20 million for the three months ended March 31, June 30, and September 30, 2023, respectively.
Business Summary
Enviva Inc. develops, constructs, acquires, and owns and operates fully contracted wood pellet production plants. The Company aggregates a natural resource, wood fiber, and processes it into dry, densified, uniform pellets that can be stored and transported around the world. The Company primarily sell its wood pellets through long-term, take-or-pay-off-take contracts with creditworthy customers in the United Kingdom, European Union, and Japan, who use its pellets to displace coal and other fossil fuels to generate power and heat. The Company owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year (MTPY) of wood pellets in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. It exports its wood pellets to global markets through its marine terminal at the Port of Chesapeake, Virginia, terminal assets at the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-YesYesYes-

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
9/30/202312/31/2022YesYesYesYes-

Industries
SIC Code Description
2448 Wood pallets and skids
2499 Wood products, not elsewhere classified

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Interim Chairman of the Board Ralph C.Alexander 68 9/19/2023 11/1/2013
President, Director ThomasMeth 50 11/9/2023 11/1/2013
Interim Chief Executive Officer, Chief Financial Officer, Executive Vice President, Principal Accou Glenn T.Nunziata 50 12/21/2023 8/29/2023
9 additional Officers and Directors records available in full report.

Subsidiaries
Business Name Address City State/Province Country
Georgia Biomass, LLC 3390 Industrial Blvd Waycross GA United States
Enviva Holdings, LP 7200 Wisconsin Ave. Bethesda MD United States
Enviva Partners Finance Corp. 7200 Wisconsin Ave. Bethesda MD United States
8 additional Subsidiary records available in full report.

Business Names
Business Name
CKS Energy Inc
Enviva Aircraft Holdings Corp.
Enviva Biomass
26 additional Business Names available in full report.

General Information
Number of Employees: 1,386 (As of 12/31/2022)
Outstanding Shares: 74,496,537 (As of 11/3/2023)
Shareholders: 39
Stock Exchange: NYSE
Federal Tax Id: 464097730
Fax Number: (302) 655-5049
Email Address: info@envivabiomass.com


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Thursday, April 18, 2024