Rayonier Advanced Materials, Verso Energy execute MOU to explore eSAF
- Rayonier Advanced Materials Inc.
- Feb 29, 2024
- 2 min read
Rayonier Advanced Materials Inc. and Verso Energy have entered into a memorandum of understanding (MOU) to explore eFuels and specifically eSAF (sustainable aviation fuel) from renewable resources.
As part of the MOU, the companies will explore the feasibility of using the biogenic CO2 produced at Rayonier Advanced Materials’ 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 multiyear feasibility study.
“We are excited to be partnering with Verso Energy on this endeavor,” said De Lyle Bloomquist, the president and CEO of Rayonier Advanced Materials.
“Combining the unique attributes of Rayonier Advanced Materials’ 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,” Bloomquist added.
Antoine Huard, CEO of Verso Energy, added, “We are very proud to announce our agreement with Rayonier Advanced Materials. By studying the utilization of Rayonier Advanced Materials’ significant resources in biogenic CO2 combined with Verso Energy’s capability to develop green H2 and eFuel 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 decarbonization targets as soon as 2030.”
Rayonier Advanced Materials 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, Rayonier Advanced Materials generated an estimated $1.6 billion of revenue in 2023.
Verso Energy is a new player in the energy transition specializing in the development, financing and operation of carbon-free energy-production assets.
