Altamaha Green Energy is a renewable power generation facility that will produce clean, reliable energy from forestry byproducts to help meet Southeast Georgia’s future electricity needs.
Sept. 30, 2026 (Press Release) - Rayonier Advanced Materials ("RYAM" or the "Company") today announced that construction is underway on Altamaha Green Energy ("AGE"), a 70 MW biomass cogeneration project adjacent to the Company's Jesup, Georgia, manufacturing facility.
The project is being developed in partnership with Albioma and the Beasley Group and will generate renewable electricity under a long-term power purchase agreement with Georgia Power while providing process steam to RYAM's Jesup facility. Commercial operations are expected to begin in 2029.
Through its land and prior investments in the project, RYAM expects to retain an initial 14% equity interest in AGE. Under pre-established terms, RYAM also has the option to purchase an additional equity interest that would increase its total ownership to as much as 16%. Based on current projections, the Company expects to receive approximately $8 million to $10 million in annual distributions from AGE once the facility is operational. This capital-light structure allows the Company to participate in the project's potential long-term value while preserving capital for its core business.
AGE is also expected to provide significant strategic benefits to RYAM's Jesup operations by modernizing and strengthening critical utility infrastructure while avoiding approximately $30 million in future capital expenditures that otherwise would have been required to maintain and replace legacy utility assets. The project's use of sustainably sourced regional forestry residues to generate renewable electricity and process steam is also expected to advance RYAM's sustainability objectives and further support the Company's role in promoting a more sustainable world. Together, these benefits are expected to enhance the reliability, environmental performance and long-term competitiveness of Jesup, a core manufacturing site within RYAM's High Purity Cellulose platform.
"This is an important milestone for Altamaha Green Energy and a compelling example of how we can unlock additional value from RYAM's existing asset base," said Dan Krawczyk, President and Chief Executive Officer of RYAM. "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. Beyond the financial benefits, AGE will strengthen critical infrastructure supporting one of our most important manufacturing sites, enhance its long-term reliability and competitiveness, and further support our role in promoting a more sustainable world."
The facility will be fueled by sustainably sourced residues from the regional forestry industry, with feedstock procurement supported by the Beasley Group. Albioma brings more than 30 years of biomass energy expertise to the project.
RYAM is a global leader of high purity cellulose commonly used in the production of filters, food, pharmaceuticals, high performance plastics, propellants and various other industrial applications. RYAM's specialized assets are also used to produce cellulose viscose pulp, cellulose fluff pulp, paperboard, high yield pulp and various value-added co-products, including biofuels, bioelectricity and lignin.
SOURCE: RYAM