JACKSONVILLE, Fla. & PARIS (News release) -- Rayonier Advanced Materials Inc. and VERSO ENERGY have entered into a Memorandum of Understanding (MoU) to explore e-fuels and specifically e-SAF or Sustainable Aviation Fuel from renewable resources. As part of the MoU, the companies will explore the feasibility of using the Biogenic Carbon Dioxide (Biogenic CO2) produced at RYAM's Tartas France plant along with Green Hydrogen to produce eSAF, a vital product needed to help reduce the world's rising greenhouse gases through Carbon Capture Utilization. The companies expect to qualify for grants from the French government to help fund the cost of this multi-year feasibility study.

"We are excited to be partnering with Verso Energy on this endeavor," said De Lyle Bloomquist RYAM's President and Chief Executive Officer. "Combining the unique attributes of RYAM's Tartas plant with VERSO ENERGY's expertise in the development of renewable energy creates a great opportunity for the potential expansion of new sustainable fuels at the site."

Antoine Huard, CEO of VERSO ENERGY declares: "We are very proud to announce our agreement with RYAM. By studying the utilization of RYAM' significant resources in biogenic CO2 combined with VERSO ENERGY's capability to develop green H2 and e-fuel projects at industrial scale, we are laying strong foundations to meet the challenge of decarbonizing hard-to-abate sectors such as aviation - an industry facing ambitious and binding decarbonation targets as soon as 2030."

About RYAM

RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly used in the production of filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, RYAM generated an estimated $1.6 billion of revenue in 2023. More information is available at www.RYAM.com.

About VERSO ENERGY

VERSO ENERGY is a carbon-free energy company specializing in the development of projects designed to make possible a decarbonized and competitive energy mix with a high proportion of renewable energies. Co-founded by Xavier Caïtucoli and Antoine Huard, VERSO ENERGY is a new player in the energy transition specializing in the development, financing and operation of carbon-free energy production assets More information is available at www.verso.energy