Acquired assets include 20 buildings on four properties with a total of 157 acres and a separate 22 acre wood lot.
The facilities incorporate five pellet presses with the capacity to produce 110,000 tonnes of wood pellets, annually.
The subsidiary obtained a $2.5m short-term bridge loan to fund the acquisition.
Viridis CEO Christopher Robertson said the firm anticipates the acquisition will reduce its final cost of goods delivered to both our East Coast customers as well as its growing industrial customer base throughout Europe.
"We expect the plant to be fully operational later this quarter and will resume business as Scotia Atlantic Biomass Company" added Robertson.
The assets were purchased from Enligna’s Receiver by 3260526 Nova Scotia, a new wholly owned subsidiary of Viridis.
