Rayonier Announces Pore Space Agreement with Reliant Carbon Capture & Storage Covering Approximately 104,000 Acres
WILDLIGHT, Fla.--(BUSINESS WIRE)--
Rayonier Inc. (NYSE:RYN) today 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
“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.”
About Rayonier
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241223387805/en/
Investors: Collin Mings, investorrelations@rayonier.com, 904-357-9100
Media: Alejandro Barbero, alejandro.barbero@rayonier.com
Source: Rayonier Inc.