Rich Riley:
Welcome everybody to part one of the Origin Materials AMA for our SPAC merger. We wanted to make sure that we took the time to engage with everyone interested
in our company, mission and public listing, rather than focus exclusively on institutional investors. Im Rich Riley and Im joined here today with our co-CEO and
co-founder, John Bissell. Were beyond excited about the number of questions received and though we may not get to all of them, we wanted to thank everyone who participated. With that said, lets get
started.
Rich Riley:
AACQ shareholder here. Im
interested in your near term roadmap prior to the Origin One Sarnia facility producing in 2022. Im also interested in your take on the impact of tailwind, such as carbon goals, ESG initiatives, et cetera. Especially in the context of
mitigating execution risk.
John Bissell:
Yeah,
its a good question. I think in terms of a roadmap prior to Origin Ones completion, what were really looking at is interim milestones and the execution of those projects. So, youll see the modules being erected for Origin
One. I think theres a question a little bit later about monthly beauty pictures of Origin One as we go along. I think you can see things happening on the side. It doesnt always turn into something thats as substantial of an
incremental advancement in the project as the module is being erected or interconnected, something like that. But yeah, I think theres going to be progress along those lines. I think theres certainly going to be progress along the lines
of Origin Two.
John Bissell:
So, site selection, EPC
selection, completion of the feed package, starting construction, procurement and all those kinds of things. So, theres going to be incremental advancement all the way through on the projects. From a technology side, well have
demonstration of applications in various areas. So, youll see incremental advancement of our product development into our TAM. So, showing us in various different applications over time. That will probably be a little bit less consistent, just
because of the nature of product development. And then maybe, Rich, you could talk about some of the bigger picture ESG stuff and maybe some of the commercial milestones that we will be hitting.
Rich Riley:
Sure. So, we feel enormous tailwinds and
thats the exact word for it. Companies making net zero announcements. More and more companies making more and more aggressive announcements and truly being focused on those goals. Government, whether it is carbon taxes or incentives and
penalties around the world for people to reduce their carbon footprints and increase sustainability. We also see it on the talent side where people are eager to come work in what they think could be the next leaders of the worlds transition to
sustainable materials. And so, it is fantastic to have all these tailwinds around our business and they definitely make us even more excited about how big our business can become.
John Bissell:
So heres the next question. Based on
patents and related papers, youre using a low feedstock to water ratio and a low water organic ratio, and feedstocks arent pure cellulose. 5-chloromethylfurfural yield is maybe half of cellulose
mass and youre only using carbon, which is half the mass of 5-chloromethylfurfural. That being said, the concentration of carbon from biomass organic phase is probably something like 0.25%. Separation of
such a low concentration is almost inevitably going to be fairly expensive and energy intensive. Im not sure how much it can be recycled, but your process also seems to use quite a bit of HCl and salt. As such, Id be interested in how
the total embodied energy of PET from Origin Materials compares to that of conventional PET production when you include distillation, separation, salt usage, HCl usage, et cetera.
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