Origin’s manufacturing system is expected to
produce the first commercial-scale PET caps and closures
Origin’s sustainable PET caps and closures
enhance recycling circularity, enable "mono-material” containers,
lighter packaging, and improved product shelf life
Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW), the world’s
leading carbon negative materials company with a mission to enable
the world’s transition to sustainable materials, and PackSys Global
AG (“PackSys Global”), the leading packaging machine producer for
plastic closure slitting machines, announced a strategic
cooperation to produce the world’s first PET cap and closure
manufacturing system.
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the full release here:
https://www.businesswire.com/news/home/20240430089236/en/
Origin Materials PET cap (Photo: Business
Wire)
“Our high-throughput production system is the first of its kind,
designed to do something nothing else can: make PET caps and
closures at commercial scale,” said Origin Co-CEO and Co-Founder
John Bissell. “Our system will allow us to bring the recycling,
sustainability, and performance benefits of our PET cap and closure
solution to the world. We expect it will be the first of many such
production lines for making not just beverage packaging better and
fully recyclable, but containers of nearly every kind.”
Bissell added: “We are happy to be building our production line
with high-quality sub-systems from PackSys Global, a respected
leader in packaging machines for the cosmetics, beverage,
pharmaceutical, and packaging industries with facilities in North
America, Europe, and Asia that has operated for over fifty years.
PackSys Global is ideally positioned to contribute technology to
the unique way we make high-quality caps and closures for multiple
industries.”
Ueli Kobel, Director of PackSys Global’s Slitting Division,
noted: “PET closures can be a game changer for closure recycling.
Most beverage closures are today made from HDPE and, while closure
recycling rates are increasing, especially in Europe where closure
tethering will be mandatory starting July 2024, a beverage
container remains a two-material solution. HDPE suffers from
degradation when re-used multiple times. Changing a closure to the
same grade of PET as in the container avoids the need to separate
the two materials and also solves the degradation topic at the same
time.”
Origin’s high-throughput production system will make the world’s
first PET caps and closures at commercial scale. The solution is a
transformative leap forward in packaging, designing for recycling
circularity and improved performance. Origin’s solution improves
recyclability, enables light-weighting, and can extend product
shelf-life while addressing a greater than $65 billion market. In
conjunction with world-class partners like PackSys Global, we are
solving the most difficult sustainability challenges, in alignment
with our core mission to help transition the world to sustainable
materials.
Aitor Henao Soto, Head of Marketing & Communications at the
Swiss company, stated, “We are proud to have partners like Origin
who have entrusted us with their project, relying on our experience
and expertise in engineering. The tests conducted at our technology
center, KREALAB, were highly successful, and we are excited to
showcase the results on May 9th at NPE2024 in Orlando in our booth
alongside the Origin team.”
About Origin Materials
Origin is the world's leading carbon negative materials company
with a mission to enable the world’s transition to sustainable
materials. Our innovative technologies include all-PET caps and
closures that bring recycling circularity and enhanced performance
to a ~$65 billion market, specialty materials, and our patented
biomass conversion platform that transforms carbon into sustainable
materials for a wide range of end products addressing a ~$1
trillion market. Origin’s technology, economics, and carbon impact
are supported by a growing list of major global customers and
investors. For more information, visit www.originmaterials.com.
About PackSys Global
PackSys Global AG manufactures high-performance machines and
complete lines for the production of extruded tubes and laminate
tubes as well as slitting and folding machines for plastic
closures. The company is the specialist for high-precision
automatic hot stamping solutions for the packaging, cosmetics and
automotive industries and the undisputed world market leader for
machines for packaging unfilled laminate, plastic and aluminium
tubes, aluminium aerosol cans, bottles and cartridges. Visit
www.packsysglobal.com
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. 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, expected increase in production
lines, use of Origin Materials’ caps and closures solution on
non-beverage containers, geographic expansion, performance
improvements, and estimated total addressable market. 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. 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; disruptions and other
impacts to Origin’s business as a result of Russia’s military
intervention in Ukraine, the impact of severe weather events, and
other global health or economic crises; changes in customer demand;
and those factors discussed in the Annual Report on Form 10-K filed
with the U.S. Securities and Exchange Commission on March 5, 2024
under the heading “Risk Factors,” and other documents Origin
Materials 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
Origin Materials presently does not know, or that Origin Materials
currently believes are immaterial, that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect Origin
Materials’ expectations, plans, or forecasts of future events and
views as of the date of this press release. Origin Materials
anticipates that subsequent events and developments will cause its
assessments to change. However, while Origin Materials may elect to
update these forward-looking statements at some point in the
future, Origin Materials specifically disclaim any obligation to do
so. These forward-looking statements should not be relied upon as
representing 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240430089236/en/
Origin Materials Investors: ir@originmaterials.com Media:
media@originmaterials.com PackSys Global Aitor Henao Soto, Head of
Marketing & Communications E-Mail:
aitor.henao@packsysglobal.com
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