WILDLIGHT, Fla. (News release) -- Rayonier Inc. announced that it has entered into an underground pore space easement agreement with an affiliate of Reliant Carbon Capture & Storage covering approximately 104,000 acres in Alabama. Reliant specializes in capturing CO₂ emissions from power plants and industrial facilities and safely sequestering this CO₂ in subsurface geologic formations. Along with this significant pore space agreement, Reliant is currently completing a front-end engineering design report for a power generating station in the area.

"Carbon capture and storage opportunities represent a key pillar of our land-based solutions strategy, and we are encouraged by our progress in securing additional pore space lease agreements," said Mark McHugh, President & CEO of Rayonier. "As we continue to grow our land-based solutions business, our team is focused on executing agreements with high-quality counterparties, such as Reliant, that position Rayonier to benefit from the transition to a low-carbon economy."

Tom McCarthy, CEO of Reliant, added, "We are pleased to work with Rayonier as Reliant develops this critical infrastructure project. By building this large-scale sequestration hub, coupled with post-combustion carbon capture projects at large-volume emitters, Reliant will provide the key components required to decarbonize heavy industry in this region."