RYAM begins construction on 70 MW biomass energy project in Georgia

Rayonier Advanced Materials Inc. (NYSE: RYAM) announced that construction has begun on the Altamaha Green Energy (AGE) project, a 70 MW biomass cogeneration facility adjacent to its manufacturing site in Jesup, Georgia.

The project is being developed in partnership with Albioma and the Beasley Group. AGE will generate renewable electricity under a long-term power purchase agreement with Georgia Power and supply process steam to RYAM's Jesup facility. Commercial operations are expected to begin in 2029.

Through land contributions and prior investments, RYAM expects to retain an initial 14% equity interest in AGE, with an option to increase its ownership to as much as 16%. The company projects annual distributions of approximately $8 million to $10 million once the facility is operational.

RYAM also said the project is expected to eliminate approximately $30 million in future capital expenditures that would have been required to maintain and replace existing utility assets at the Jesup site.

The facility will use sustainably sourced residues from the regional forestry industry. Feedstock procurement will be supported by the Beasley Group, while Albioma brings more than 30 years of biomass energy experience to the project.

"The capital-light structure enables RYAM to retain meaningful ownership and long-term upside in the project while preserving capital for our core business and avoiding substantial future capital investment at Jesup," said Dan Krawczyk, President and Chief Executive Officer of RYAM.

RYAM reported $1.5 billion in revenue in 2025 and operates manufacturing facilities in the U.S., Canada, and France.

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