Bluerock Residential Growth REIT, Inc. (BRG)

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Borregaard: Florida lignin investment approved

The board of directors of Borregaard and Rayonier Advanced Materials have decided to go ahead with the investment project in Florida after securing necessary permits as well as incentives from local authorities. Phase one of the project is expected to be completed mid- 2018, and will represent a capacity of 100,000 metric tonnes lignin. The parties are in the process of securing external financing for about half of the USD 110 million investment for phase one. LignoTech Florida LLC is owned 55% by Borregaard and 45% by Rayonier Advanced Materials.