RYAM and GranBio Sign MOU to Explore Cellulosic SAF Project at Jesup Facility

JACKSONVILLE, Fla. - Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company” or “RYAM”), the global leader in cellulose specialty products, announced today the signing of a Memorandum of Understanding (MoU) with GranBio LLC, a pioneer in biochemicals and biofuels, to jointly explore the development of a small-scale commercial cellulosic Sustainable Aviation Fuel (SAF) facility co-located at RYAM’s Jesup, Georgia site.

Under the agreement, GranBio will lead the proposed project to deploy its proprietary AVAP® technology to convert lignocellulosic biomass into second-generation ethanol, which will be upgraded into SAF for sale to an offtaker. The new facility would leverage RYAM’s infrastructure at the Jesup plant, including feedstock, utilities, and logistics. The project will be partially financed through GranBio’s $100 million grant from the U.S. Department of Energy.

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In addition to advancing its strategic goal of maximizing value from existing assets, should the project proceed, RYAM would receive a license to GranBio’s latest-generation Celer2L™ yeast and AVAP® technologies for ethanol and sugar production at its own facility, in partnership with GranBio—a meaningful step in diversifying into high-growth biofuel and biochemical markets.

"This MoU aligns with our strategy to unlock new value from our core assets and expand into renewable markets where our infrastructure and technical capabilities create a competitive advantage," said De Lyle Bloomquist, President and CEO of RYAM. "GranBio brings world-class technology to this partnership, and together we’re exploring practical, scalable solutions to help decarbonize global aviation fuel markets."

"I am very pleased to strengthen our collaboration with RYAM and work toward our joint goal of developing clean energy solutions, while improving the communities in which we work," said Luiz Oliveira, CEO of GranBio. "At Jesup, we will leverage our complementary capabilities in the development of a cost-effective, scalable solution for the production of Sustainable Aviation Fuels."

This first-of-its-kind project marks a major milestone in GranBio’s strategic goal of systematically scaling up SAF production, with strong potential for replication.

The due diligence is expected to conclude later this year, at which point both parties will determine next steps. The MoU underscores both companies’ commitment to sustainability, innovation, and the development of next-generation biomaterials and fuels.

About RYAM

RYAM is a global leader of cellulose-based technologies, including cellulose specialties, a natural polymer commonly used in the production of filters, food, pharmaceuticals and other industrial applications. RYAM’s specialized assets, capable of creating the world’s leading cellulose specialties products, are also used to produce commodity fluff pulp, biofuels, bioelectricity and other biomaterials such as bioethanol and tall oils. The Company also manufactures products for the paper and packaging markets. With manufacturing operations in the U.S., Canada and France, RYAM generated $1.6 billion of revenue in 2024. More information is available at www.RYAM.com.

About GranBio

GranBio is a pioneer in biofuels and biochemicals. Its proven technology uses a wide range of biomass - including forest, agricultural, construction, and sugarcane residues - to help decarbonize hard-to-abate sectors and revitalize rural economies. The company operates a plant in Brazil and a pilot plant in the U.S., including a state-of-the-art R&D center. The company plans to build 1-billion-gallon SAF capacity over the next decade to meet growing global demand. Founded in 2011, GranBio has over 400 granted and pending patents in the bioeconomy field, reflecting its commitment to innovation and sustainability. For more information, please visit www.granbio.com