Mitsubishi and Weyerhaeuser may be getting into the biomass business together – a business that some think can keep old coal-fired plants burning longer and cleaner.

Mitsubishi and Weyerhaeuser have entered into a partnership to investigate the potential of biomass and possibly build bio-pellet production facilities in the U.S., reports Reuters.

The bio-pellets would be derived from wood from sustainably managed forests, then sold to utilities and industrial users.

Converting coal plants to run on a mixture of coal and wood pellets is cost-competitive and reduces emissions, according to a new study, reports the New York Times.

If wood pellets were used for 10 percent of the biomass/coal mix at all U.S. and Canadian coal plants, the same amount of electricity could be produced, with a reduction in greenhouse gas emissions of 170 million metric tons each year.

That would be equivalent to 5 percent of emissions from the two nations’ utility industries, according to the article.