Origin’s fully recyclable carbon negative PET
to drive innovation and build a sustainable and circular global
plastic value chain
Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ:
ORGN, ORGNW), the world’s leading carbon negative materials
company, today announced it has joined the Alliance to End Plastic
Waste, a global non-profit organization.
Members of the Alliance include industry leaders across the
plastics value chain, working towards a common goal of developing,
deploying and scaling solutions to end plastic waste in the
environment. As a member of the Alliance, Origin will work with
fellow members to drive innovation and build a sustainable and
circular global plastic value chain. The modern world is built on
advanced materials like plastics which are high performance, light
weight and cost effective. Since plastics are widely used for their
functional advantages, companies are aggressively seeking net zero
or low carbon sustainable solutions to fossil-based plastics.
The partnership builds on Origin’s ability to leverage its
patented technology platform, which turns inexpensive, sustainable
wood residues into carbon-negative materials, to decarbonize and
mitigate the climate impact of the global plastic supply chain.
Origin’s technology has broad implications for a wide range of end
products, including clothing, textiles, plastics, packaging, car
parts, tires, carpeting, toys, and more with a ~$1 trillion
addressable market.
Origin’s carbon negative PET is being commercialized to reduce
the carbon footprint and climate impact of plastic materials. An
analysis by the Ellen MacArthur Foundation found that the impacts
of plastics on climate change have been widely underestimated.
Many of today's clothing, carpets, automotive parts, and other
products are made from plastics and additional chemicals derived
from fossil fuels. During petroleum extraction and processing,
greenhouse gases are released into the atmosphere, contributing to
global warming and climate change. Origin’s sustainable
carbon-negative PET is physically and chemically identical to
fossil-based PET. Since Origin PET is produced using sustainable
wood residues instead of fossil fuel as feedstock, it has the
potential to substantially reduce the energy used and greenhouse
gases generated in the process. Additionally, compared with
fossil-based PET, Origin PET is equally recyclable within the
existing infrastructure, which is critical to creating a circular
economy with a significantly reduced carbon footprint.
“Stakeholders across the manufacturing sector and end product
markets recognize that to create a sustainable, circular economy,
we must aggressively decarbonize the global plastics supply chain
to mitigate the climate impact of plastic,” said Origin Materials
co-CEO Rich Riley. “We are excited to join together with the
Alliance to End Plastic Waste to drive awareness and technical
expertise of carbon-negative innovations in reducing the footprint
of plastics, and toward the new circular economy.”
Jacob Duer, President and Chief Executive Officer of the
Alliance, said: “As the issue of plastic waste moves up in the
global sustainability agenda, our mission to develop, deploy and
scale solutions to end plastic waste in the environment is more
relevant than ever before. Strengthening participation across the
plastics value chain with Origin Materials will help accelerate our
collective efforts. Together, we can work towards helping to create
a more sustainable future and I look forward to a fruitful
partnership.”
About the Alliance to End Plastic Waste
The Alliance to End Plastic Waste (Alliance) is a global
non-profit organisation with the mission to end plastic waste in
the environment. The Alliance develops, deploys, and scales
solutions across four strategic areas—infrastructure, innovation,
education and engagement, and cleanup. As of June 2021, its
portfolio comprises over 30 projects across 60 cities
worldwide.
Tackling plastic waste is a complex challenge that requires
collective action. Since 2019, the Alliance has convened a global
network of industry leaders across the plastics value chain,
together with government, civil society, entrepreneurs, and
communities to work towards advancing a circular economy for
plastic waste. For more information, visit:
www.endplasticwaste.org
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the
world's leading carbon negative materials company. Origin’s mission
is to enable the world’s transition to sustainable materials. Over
the past 10 years, Origin has developed a platform for turning the
carbon found in inexpensive, plentiful, non-food biomass such as
sustainable wood residues into useful materials while capturing
carbon in the process. Origin’s patented technology platform 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’s 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. Origin’s patented drop-in core
technology, economics and carbon impact are supported by a growing
list of major global customers and investors.
For more information, visit www.originmaterials.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, estimated total addressable market
and ability to realize the anticipated benefits of the Alliance and
partner with others to build a circular global plastic value chain.
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; disruptions and other impacts to
Origin Materials’ business as a result of the COVID-19 pandemic and
other global health or economic crises; and those factors discussed
in the prospectus filed with the SEC on July 30, 2021 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.
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Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
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