A Newport couple plans to turn a closed furniture factory in Island Pond into a wood pellet manufacturing plant, employing 30 workers.
Fred and Melanie Azur say they have signed an agreement to buy the former Ethan Allen plant.
They say their company – Vermont Renewable Energy Company LLC – will produce 50,000 tons of wood pellets a year, with capacity to produce 100,000 tons annually.
Ethan Allen, which had a local permit for wood pellet manufacturing, closed the furniture plant in 2000.
Last year, developers had considered setting up a pellet plant at the facility but dropped the idea.
The Azurs say the pellet operation will occupy half the plant and say other businesses are being considered for the rest of the space.