Strategic alliance expected to focus on
decarbonizing the global materials supply chain
Origin Materials (“Origin Materials” or “Origin”), the world’s
leading carbon negative materials company, and Palantir
Technologies Inc. (“Palantir”) (NYSE: PLTR) today announced the
formation of a strategic alliance to accelerate the world’s
transition to net zero carbon.
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the full release here:
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The strategic alliance will focus on decarbonizing the global
materials supply chain. Palantir is a software company whose
platforms enable organizations to optimize complex and sensitive
data environments. Origin Materials plans to deploy Palantir’s
Foundry technology to support the acceleration of its internal
operations and to help companies decarbonize their supply chains on
their journey to net zero.
“Existing supply chains for physical goods are complicated,
opaque and carbon-intensive,” said John Bissell, Co-Founder and
Co-CEO of Origin Materials. “The carbon-intensity of those supply
chains is dominated by the raw materials which comprise physical,
end market products. The combination of Palantir's data integration
and modeling capability and Origin's expertise and technology for
the decarbonization of physical raw materials is expected to help
enable those complicated, opaque, and carbon-intensive supply
chains to become well-managed, transparent, and decarbonized.”
“We are deeply energized by Origin’s meaningful progress against
the world’s net zero ambition,” said Shyam Sankar, Chief Operating
Officer of Palantir Technologies. “Our platform is uniquely suited
to support the decarbonization of complex global supply chains.
Customers across dozens of industries are using Foundry to build a
carbon-focused common operating picture that allows them to track
live emissions, simulate scenarios based on emerging technologies
and regulations, and make real-time changes to their business.”
Origin Materials and Palantir are also exploring commercial
opportunities that would bring value to their customers across a
variety of industries by implementing data-driven strategies to
understand, quantify, and reduce environmental impact while
building a resilient and profitable business. This supply chain
visibility is expected to enable carbon plans that can be applied
to financial and regulatory reporting, daily operations, and
multi-year business planning. As part of this new strategic
alliance to decarbonize the world’s global supply chain, Origin
Materials will also become a new Palantir customer.
Origin Materials’ patented technology platform, which turns
inexpensive, plentiful and sustainable wood residues into
carbon-negative materials, can help revolutionize the production of
a wide range of end products, including clothing, textiles,
plastics, packaging, car parts, tires, carpeting, toys, and more
with a ~$1 trillion addressable market. In addition, Origin
Materials’ technology platform is expected to provide stable
pricing largely decoupled from the petroleum supply chain, which is
exposed to more volatility than supply chains based on sustainable
wood residues.
“This strategic partnership with Palantir is expected to deliver
significant value to our customers as they factor emissions from
materials into their carbon accounting, disclosure and reduction
processes,” said Rich Riley, Co-CEO of Origin Materials. “By
integrating Palantir’s enterprise operating system with Origin’s
carbon negative technology platform, we can help our customers
optimize their decarbonization strategies across their supply
chains and at the enterprise level.”
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the
world's leading carbon negative materials company. Origin
Materials’ mission is to enable the world’s transition to
sustainable materials. Over the past 10 years, Origin Materials has
developed a platform for turning the carbon found in non-food
biomass into useful materials, while capturing carbon in the
process. Origin Materials’ patented drop-in core technology,
economics and carbon impact are supported by a growing list of
major global customers and investors. Origin Materials’ first
commercial plant is expected to be operational in 2022 with a
second commercial plant expected to be operational by 2025 and
plans for additional expansion over the next decade.
On February 17, 2021, Origin Materials and Artius announced a
definitive agreement for a business combination that is expected to
result in Origin Materials becoming a public company. Upon closing
of the transaction, expected in the second quarter of 2021, the
combined company will be named “Origin Materials, Inc.” and remain
listed on the Nasdaq under the new ticker symbol “ORGN.” The
transaction, together with anticipated financing and grants, is
expected to fully fund Origin Materials until EBITDA positive, and
allow Origin Materials to scale and commence commercial production
to begin to meet signed customer offtake and capacity reservations
of $1.9 billion across a diverse range of industries.
For more information, visit www.originmaterials.com.
About Palantir Technologies
Palantir Technologies is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and nonprofit sectors
transform the way they use their data. Additional information is
available at https://www.palantir.com.
Important Information for Investors and Shareholders
In connection with the proposed business combination
transaction, Artius filed an amended registration statement on Form
S-4 (the “Registration Statement”) with the SEC on May 3, 2021,
which includes a proxy statement distributed to holders of Artius’
ordinary shares in connection with Artius’ solicitation of proxies
for the vote by Artius’ shareholders with respect to the proposed
transaction and other matters as described in the Registration
Statement, as well as the prospectus relating to the offer of
securities to be issued to Artius’ shareholders and Origin
Materials’ stockholders in connection with the proposed
transaction. The Registration Statement was declared effective on
May 27, 2021, and the definitive proxy statement/prospectus and
other proxy materials were mailed on or about June 1, 2021 to
Artius’ shareholders of record as of May 19, 2021. Investors and
security holders and other interested parties are urged to read the
definitive proxy statement/prospectus, any amendments thereto and
any other documents filed with the SEC carefully and in their
entirety when they become available because they will contain
important information about Artius, Origin Materials and the
proposed transaction. The documents relating to the proposed
transaction can be obtained free of charge from the SEC’s website
at www.sec.gov. Free copies of these documents may also be obtained
from Artius by directing a request to: Artius Management LLC, 3
Columbus Circle, Suite 2215, New York, New York 10019.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including with
respect to the proposed transaction between Origin Materials and
Artius. Forward-looking statements generally are accompanied by
words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding Origin Materials’ business strategy, estimated
total addressable market, commercial and operating plans, product
development plans and projected financial information, and the
benefits of the strategic alliance. These statements are based on
various assumptions, whether or not identified in this press
release, and on the current expectations of the management of
Origin Materials and are not predictions of actual performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be
relied on as, a guarantee, an assurance, a prediction, or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Origin Materials and Artius. These
forward-looking statements are subject to a number of risks and
uncertainties, including that Origin Materials may be unable to
successfully commercialize its products; the effects of competition
on Origin Materials’ business; the uncertainty of the projected
financial information with respect to Origin Materials; disruptions
and other impacts to Origin Materials’ business as a result of the
COVID-19 pandemic and other global health or economic crises;
changes in customer demand; Origin Materials and Artius may be
unable to successfully or timely consummate the proposed business
combination, including the risk that any regulatory approvals may
not obtained, may be delayed or may be subject to unanticipated
conditions that could adversely affect the combined company or the
expected benefits of the business combination, or that the approval
of the shareholders of Artius or stockholders of Origin Materials
may not be obtained; failure to realize the anticipated benefits of
the business combination; the amount of redemption requests made by
Artius’ shareholders, and those factors discussed in the
Registration Statement under the heading “Risk Factors,” and other
documents Artius has filed, or will file, with the SEC. If any of
these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Artius and Origin Materials presently do not know, or that Artius
and Origin Materials currently believe are immaterial, that could
also cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Artius’ and Origin Materials’ expectations, plans, or
forecasts of future events and views as of the date of this press
release. Artius and Origin Materials anticipate that subsequent
events and developments will cause its assessments to change.
However, while Artius and Origin Materials may elect to update
these forward-looking statements at some point in the future,
Artius and Origin Materials specifically disclaim any obligation to
do so. These forward-looking statements should not be relied upon
as representing Artius’ and Origin Materials’ assessments of any
date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
In addition to as noted above, this press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements may
relate to, but are not limited to, Palantir’s expectations
regarding the strategic alliance and the contract, as well as the
expected benefits of Palantir’s software platforms. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Forward-looking
statements are based on information available at the time those
statements are made and were based on current expectations as well
as the beliefs and assumptions of Palantir’s management as of that
time with respect to future events. Additional information
regarding these and other risks and uncertainties is included in
the filings Palantir makes with the Securities and Exchange
Commission from time to time. Except as required by law, Palantir
does not undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
Participants in the Solicitation
Artius, Origin Materials and their respective directors,
executive officers and employees and other persons may be deemed to
be participants in the solicitation of proxies from Artius’
shareholders in connection with the proposed business combination.
Information about Artius’ directors and executive officers and
their ownership of Artius’ securities is set forth in the
Registration Statement described above. Additional information
regarding the interests of those persons who may be deemed
participants in the solicitation of proxies in connection with the
proposed transaction is set forth in the definitive proxy
statement/prospectus.
Non-Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of Artius, the combined company or Origin Materials, nor shall
there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210615005653/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Artius Investors: Jason Ozone jason@artiuscapital.com
+1-212-309-7668
Palantir Lisa Gordon media@palantir.com.
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