Intertex signed an offtake agreement to
purchase sustainable carbon-negative carbon black from Origin
Materials for use in mechanical rubber goods markets, including
automotive tires, belts, hoses, and rubber seals
Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ:
ORGN, ORGNW), the world’s leading carbon negative materials company
with a mission to enable the world’s transition to sustainable
materials, and Intertex World Resources, Inc. (“Intertex”), a
leading value-added distributor of synthetic rubber, carbon black,
process oils and rubber chemicals, today announced a strategic
partnership to bring sustainable carbon-negative carbon black made
using Origin Materials’ patented technology platform to the rubber
compounding and plastic masterbatch industries.
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the full release here:
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As part of the partnership, Intertex signed an offtake agreement
with Origin Materials to purchase sustainable carbon black.
Origin’s carbon-negative carbon black, made from Origin’s HTC, is a
versatile 100% bio-content filler and pigment produced from
sustainable wood residues rather than petroleum, reducing carbon
emissions and fossil resource consumption.
The partnership aims to produce carbon black for tires including
N660, N550, and N762 specifications, as well as for belts, hoses,
rubber seals, plastic extrusion, and all other mechanical rubber
goods markets. Origin and Intertex will work to develop a carbon
black for automotive seal customers requiring high performance
carbon blacks for rubber window seals.
“We are thrilled to partner with Intertex, a strategic sourcing
leader with three decades’ experience in product development and
distribution,” said Origin Materials Co-CEO Rich Riley. “This
collaboration is a significant step forward in our mission to
enable the world’s transition to sustainable materials. We expect
our sustainable carbon-negative carbon black to be deployed across
a diverse array of applications to decarbonize the rubber and
automotive supply chain.”
“We are excited to work with Origin Materials on sustainable
carbon black and believe it is a great time to partner with this
forward-looking company,” said Greg Sibley, Managing Partner for
Intertex. “The world is looking for sustainable replacements for
fossil-fuel based products, including carbon black, and we look
forward to being at the front of this effort with Origin to bring
those products to our valued customers. With our markets in tires,
belts, hoses, and other mechanical rubber goods, all of which are
looking for sustainable raw materials, we believe this partnership
will allow us to give our customers a decided market
advantage.”
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 Intertex World Resources, Inc.
Founded in 1990, Intertex is a leading value-added distributor
of synthetic rubber, carbon black, process oils, and other rubber
chemicals. Intertex is a critical link in the supply chain
providing all grades of materials to customers throughout North
America. Intertex has satisfied its customers utilizing a strategy
based on maximizing value for our customers in both price and
product availability. Our close supplier relationships (most are
over 25 years) are secured by our reputation as a consistent and
reliable purchaser with a proven ability to service a broad
spectrum of elastomers and carbon black through regional
warehousing and packaging facilities. Our mission is simple, but
very important to our customers, suppliers, management, and
employees. We deliver quality products, competitively priced, to
our customers on a just-in-time basis.
For more information, visit www.intertexworld.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,
our ability to develop additional high-value products beyond our
core CMF platform and ability to realize the anticipated benefits
of the partnership discussed in the press release. 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 Quarterly Report on Form 10-Q filed
with the SEC on May 9, 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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Media: media@originmaterials.com
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