LVMH signed a multi-year capacity reservation
agreement to purchase sustainable carbon-negative materials from
Origin Materials
Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ:
ORGN, ORGNW), the world’s leading carbon negative materials
company, and LVMH Beauty, a division of LVMH Moët Hennessy Louis
Vuitton, the global leader in luxury products, today announced a
strategic partnership to develop sustainable low-carbon footprint
packaging for the perfumes and cosmetics industry.
As part of the strategic partnership, LVMH has signed a
multi-year capacity reservation agreement with Origin Materials to
purchase sustainable, carbon-negative PET (polyethylene
terephthalate) for use in packaging for perfumes and cosmetics.
PET produced using Origin technology is functionally identical
to petroleum-based PET, but with a dramatically lower carbon
footprint since it is made from sustainable wood residues which
capture carbon. Additionally, Origin PET is equally recyclable to
fossil-based PET within the existing infrastructure, which is
critical to creating a circular economy with a significantly
reduced carbon footprint.
Origin aims to continue to work with LVMH Beauty on sustainable
packaging solutions across its family of renowned brands, which
includes Parfums Christian Dior, Parfums Givenchy, Guerlain and
others. Origin’s technology can help LVMH Beauty Maisons reduce the
carbon impact of their products while maintaining the premium
aesthetics and zero-compromise performance that luxury customers
expect.
“At LVMH, with our Life 360 program, we made the decision that
our packaging will contain zero plastic from virgin fossil
resources in a near future. Origin’s bioplastic technologies are
playing a crucial role in helping LVMH achieve our sustainability
targets without any compromise on quality. LVMH Beauty is happy to
collaborate with Origin, supporting innovative technologies,” said
Claude Martinez, Executive President & Managing Director LVMH
Beauty.
“LVMH is a powerhouse of luxury brands, with a high standard of
excellence for the environmental performance of its products,” said
Origin Materials Co-CEO Rich Riley. “Our mission of enabling the
world’s transition to sustainable materials as fast as possible is
completely aligned with LVMH’s ambitious environmental initiatives.
We look forward to helping LVMH reduce its carbon footprint and
achieve its sustainability goals while continuing to deliver
superior product experiences to its customers.”
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. For over a decade, 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.
About LVMH Beauty
LVMH Beauty is the Perfumes & Cosmetics division of LVMH
group, a major player in the perfumes, make-up and skincare
markets, which groups together historic Maisons as well as younger
ones with strong potential: Parfums Christian Dior, Givenchy
Parfums, Guerlain, Fresh, Acqua Di Parma, Benefit Cosmetics, Kenzo
Parfums, Make Up For Ever, Officine Universelle Buly, Fenty beauty
by Rihanna, Bite Beauty, Ole Henriksen, Marc Jacobs beauty, Maison
Francis Kurkdjian, Cha Ling, KVD Vegan beauty, Perfumes Loewe. All
are driven by the same values: a quest for excellence, creativity,
innovation, and perfect mastery of their image.
For more information, visit www.LVMH.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 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; 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; and
those factors discussed in the Annual Report on Form 10-K filed
with the SEC on March 1, 2022 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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