At its General Shareholders’ Meeting, Ence reaffirms its commitment to growth and diversification in Pulp and Renewable Energies

The General Meeting of Shareholders of Ence – Energy and Pulp today has endorsed the Group’s commitment to growth and diversification in its pulp production and renewable energy generation businesses.

In his speech, the president of Ence, Ignacio Colmenares, highlighted the company’s role as a driver of decarbonization. A vision present in all the Group’s lines of activity, also aligned with the circular bioeconomy.

The General Meeting of Shareholders has approved all the resolution proposals that appeared on the agenda. The company looks to the future with optimism and confidence: pulp prices have been growing strongly since last autumn (they have already increased by more than 50% since September 2023).

Looking towards the medium and long term, “we also have good prospects before us, because we are growing and diversifying our businesses. And we will continue to do so in the years to come, even beyond the 2024-2028 strategic framework,” added the company’s President.

In the Pulp business, the manufacturing of special cellulosic products has stood out, a sustainable alternative to plastics, with a higher margin and capable of replacing long fiber in a multitude of applications.

The company’s strategic framework includes investments to continue advancing the competitiveness and sustainability of the Pontevedra biofactory. It also contemplates continuing with the project for the production of fluff cellulose in the Navia biofactory (Asturias). This is a specific cellulose for absorbent products that, until now, had to be imported to Europe from North America.

With this project, the company also reinforces its commitment to minimizing the consumption of natural resources. Accordingly, Ence is committed to initiatives that do not imply an increase in the demand for wood, a very limited resource. Thus, Ence continues with its project for the A Coruña town of As Pontes: a bioplant for the production of recycled and bleached cellulose, which will include a pilot plant for the production of recovered textile fibers. An installation whose raw material will not be wood, but recovered cardboard and paper. In addition, it will have minimal water consumption (up to fifteen times less than that of a virgin pulp mill) and will be located on industrial land (the one occupied by the thermal power plant). It is, therefore, a just transition project, which will revitalize industrial activity, without affecting natural spaces.

In the Renewable business, the company also aims for growth and diversification. In addition to the activity of Magnon Green Energy’s biomass electricity generation plants, the company promotes the decarbonization of the industry through Magnon Servicios Energéticas, focused on the production and sale of renewable industrial heat.

Likewise, Ence Biogas, dedicated to the production of biomethane, continues to grow and plans to launch up to 20 biogas projects in the next 5 years.
Biomass trading is another of the Group’s firm bets, given the strategic importance of this energy source and Ence’s extensive experience in its sustainable management.