The companies have signed a joint development
agreement (JDA), with testing of eucalyptus feedstock underway
targeting applications in food packaging, logistics, automotive,
and construction
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 SCG Packaging
PLC (“SCGP”), a leading multinational consumer packaging solutions
provider, today announced a strategic partnership to explore
licensing Origin technology for use in an ASEAN-based manufacturing
facility.
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The strategic partnership includes a joint development agreement
(JDA) between Origin and SCGP. The companies aim to develop
sustainable, carbon-negative products from eucalyptus feedstocks
provided by SCGP with applications in food packaging, logistics,
automotive, and construction.
As part of the joint development work, Origin has successfully
processed and tested SCGP’s eucalyptus feedstock in its West
Sacramento, California, pilot facility and confirmed similar yields
to other sustainable wood residues that Origin has evaluated. As a
feedstock, eucalyptus offers several benefits including rapid
growth, adaptability to diverse environments, and other properties
useful for industry.
“Our work with SCGP reflects the power and versatility of our
technology platform to capitalize on a wide range of plentiful,
local feedstocks,” said Origin Materials Co-CEO Rich Riley. “This
strategic partnership opens pathways for further scaling our
technology, including potentially through a global licensing
strategy. We are excited to take this significant step forward in
Origin’s mission to enable the world’s transition to sustainable
materials.”
The companies are exploring the production of plastic PET
(polyethylene terephthalate), carbon black derived from HTC
(hydrothermal carbon) for use in automotive tires, biofuels, as
well as PEF (polyethylene furanoate), a next-generation polymer
with an attractive combination of sustainability and performance
characteristics for packaging. The intended sustainable products
made from eucalyptus feedstock would leverage Origin’s patented
technology platform to strengthen SCGP’s supply chain, innovative
capability, and the value of its addressable markets by turning the
carbon found in sustainable wood residues into useful materials
while also capturing carbon in the process.
“SCGP has always prioritized sustainability in its business
operation, focusing on the efficient use of resources through
innovation and packaging solutions,” said SCGP CEO Wichan
Jitpukdee. “It is a great opportunity that Origin, the world's
leading carbon negative materials company, shares the same goal of
supporting SCGP's sustainability efforts through expanding its
expertise in development and maximizing the benefits and
sustainability of Eucalyptus as a sustainable resource, while also
expanding in ASEAN. This is a significant step in taking the
business towards strong and sustainable growth, while evolving the
quality of life for people in society and creating sustainability
for all stakeholders.”
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, fuels, 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 SCG Packaging PLC (SCGP) SCGP is a leading
multinational consumer packaging solutions provider, offering fiber
packaging, consumer and performance packaging, foodservice
products, and pulp and paper products. Its solutions encompass a
diversity of designing and publishing services that are intended to
supplement the operations of business partners and add value to
fulfill consumers’ diverse needs. SCGP is committed to lighting up
the modern way of life by being the leading company to support
customers, consumers, society and the environment to progress and
grow sustainably with its manufacturing bases in Thailand, Vietnam,
Indonesia, Malaysia, the Philippines, the UK, Spain, the
Netherlands, and the USA.
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, access to financing
sources, budget and timelines for Origin 1 and Origin 2, ability to
convert capacity reservations and offtake agreements into revenue,
ability to enter new end-markets, ability to develop new product
categories, commercial and operating plans, product development
plans, anticipated growth and projected financial information and
ability to realize the anticipated benefits of any partnerships
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; the uncertainty of the projected financial
information with respect to Origin; disruptions and other impacts
to Origin’s business as a result of outbreaks such as the COVID-19
pandemic, 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 February 23, 2023 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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version on businesswire.com: https://www.businesswire.com/news/home/20230414005451/en/
Origin Materials: Investors: ir@originmaterials.com
Media: media@originmaterials.com
SCGP: Investors: scgp_invest@scg.com Media:
orawanta@scg.com
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