JACKSONVILLE, Fla.--Jan. 18, 2022-- Rayonier Advanced Materials Inc.(NYSE: RYAM, the “Company”), a global leader in the production of high purity cellulose pulp, today announced the introduction of a second generation (2G) bioethanol product for Europe’s fast-growing biofuels market.
Produced using wood-based feedstock (not in competition with food), RYAM will be among the first in
“With the successful development of second-generation bioethanol products, RYAM is taking an important step toward achieving our
Rayonier Advanced Materials’ biorefinery model captures residual sugars from its existing pulp process and converts the sugars into 2G bioethanol. This circular process, which utilizes a greater portion of the tree to create higher-value products, represents a more sustainable operating model.
“Second generation bioethanol is about more than just introducing a new product pipeline. 2G represents RYAM’s largest investment to date towards its more sustainable BioFuture,” said
Designed to produce up to 21 million liters of bioethanol, construction on RYAM’s 2G production facility is scheduled to begin in the Spring of 2022 with commercial sales targeted for the Summer of 2023. RYAM has entered into a long-term off-take (sales) agreement with a large international petrochemicals company to purchase the 2G bioethanol and expects to finance a significant portion of its investment with low-cost green loans.
Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Rayonier Advanced Materials’ or future or expected events, developments or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "intend," "anticipate" and other similar language. However, the absence of these or similar words or expressions does not mean that a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties.
Other important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements that may have been made in this document are described or will be described in our filings with the
Source: Rayonier Advanced Materials