Altamaha Green Energy Receives Certified Purchase Power Agreement

JESUP, Ga.--(BUSINESS WIRE)-- Altamaha Green Energy (AGE), a joint venture between Beasley Green Power, LLC and Rayonier Advanced Materials (RYAM), announced that the Georgia Public Service Commission has certified a Power Purchase Agreement for AGE to produce and sell up to 70 MW of electricity to Georgia Power Company for a 30-year period. This approval marks a significant milestone in AGE’s development of a renewable energy project aimed at producing sustainable electricity for the state of Georgia.

"Altamaha Green Energy was formed in response to Georgia Power's competitive and public bidding process for renewable energy solutions," said Darrell Beasley, Chairman of AGE. "Combining our extensive expertise in renewable forestry operations with RYAM’s world-class high-purity cellulose plant in Jesup, we are well-suited to contribute to Georgia's energy future."

Though still in the development phase, the AGE project aims to utilize renewable forestry waste, such as bark, tree limbs and other biomass generally discarded as waste, to generate sustainable electricity for Georgia residents. The project is poised to meaningfully impact the growing demand for renewable energy while strengthening Georgia's forestry economy and boosting associated jobs. Additional information about the project will be shared as the project progresses.

About AGE

Altamaha Green Energy LLC (AGE) is a joint venture between Beasley Green Power, LLC and RYAM. Located in Jesup, Georgia, AGE was formed to evaluate the feasibility of developing a 70 MW renewable biomass power plant aimed at producing sustainable electricity for the state of Georgia.

About Beasley Green Power, LLC

Beasley Green Power, LLC is an affiliate of the Beasley Group of companies which are global leaders in the forest products industry, specializing in quality softwood and hardwood products. With over 50 years of experience, the Beasley Group of companies have evolved from a two-employee logging operation to numerous mills and operations throughout the United States including several wood pellet plants, flooring plants, a veneer plant, logging and procurement operations, and several softwood and hardwood sawmills. The Beasley Group of companies offer a diverse product portfolio, including dimensional softwood lumber, grade hardwood lumber, crane mats, railroad cross ties, switch ties, industrial pallet lumber, residuals like bark, chips, and sawdust, flooring products, wood flour, pine shavings, veneer, and wood pellets. For more information, visit www.BeasleyGroup.com.

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. RYAM’s specialized assets, capable of creating the world’s leading high purity cellulose products, are also used to produce 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 2023. More information is available at www.RYAM.com.

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Ryan Houck 904-357-9134

Source: Altamaha Green Energy