Virtual Media Holdings acquires biomass company

In June, Abbotsford, British Columbia-based Virtual Media Holdings Inc. acquired Biomass Waste Management Inc. with intentions of building biomass-to-power generation facilities across North America. The new company, now called Biomass Secure Power Inc., plans to develop biomass-to-power plants that are able to produce 10 megawatts of steam and electricity using wood destroyed by pine beetles as a feedstock. The company would then sell the electricity to BC Hydro, British Columbia's utility provider, through a 20-year power purchase agreement, according to VMH Chief Executive Officer Jim Carroll.

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