This agreement entails the planting and harvesting of Balsa Wood plantations throughout Los Rios Province over a 5-year period with a target number of 2,500 hectares of Balsa Wood plantations. The main drive of this agreement is to bring technological development and the creation of new jobs in Ecuador.
Mr. Johnny Teran Salcedo, Prefect of Los Rios Province, Ecuador said:
“This agreement will create several life-changing income opportunities for the local communities in Los Rios Province with a completely sustainable product that is commonly used in wind energy applications”
This private-public partnership will also ensure the ample availability of a sustainably and legally sourced raw material for the production of Balsa Wood panels that CoreLite manufactures and distributes worldwide.
Mr. Paul Lewis, Managing Director at CoreLite said:
“This is part of CoreLite’s global sustainability initiative to promote responsible forestry, reduce the carbon footprint, while at the same time ensuring future availability of raw material”
Balsa Wood is an endemic wood species to Los Rios Province, so the natural ecosystem of Los Rios Province will be restored.