Green Chemistry Division of Minafin to serve as
high-value conversion and manufacturing partner, improving
downstream supply chain for novel chemistry
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 the Green Chemistry Division (“GCD”) of the Minafin
Group (“Minafin”), a global fine chemical company, today announced
a new commercial arrangement whereby Minafin will become Origin’s
manufacturing partner for the downstream supply chain of Origin 1,
Origin’s first commercial manufacturing plant.
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The initiative, which expands on the companies’ previously
announced strategic partnership to industrialize sustainable
chemicals, aims to further build on the strengths of Origin’s
patented technology platform, which turns the carbon found in
sustainable wood residues into useful materials, and Minafin’s
manufacturing capability, supply chain strength, and deep expertise
in furanic specialty products.
As part of the manufacturing initiative, CMF
(chloromethylfurfural) produced by Origin at Origin 1 will be
delivered to Minafin, which will convert CMF into downstream
intermediates and products. The initiative is expected to position
the companies’ complementary technologies to grow the value of the
bio-based supply chain for high-value chemicals and materials
including bio-based PET (“polyethylene terephthalate”).
“Origin’s expanded relationship with the Green Chemistry
Division of Minafin represents a key milestone in our mission to
transition the world to sustainable materials,” said Origin
Materials Co-CEO Rich Riley. “This partnership strengthens our
supply chain at Origin 1, enhances our ability to leverage our
versatile platform technology, and supports our commercialization
strategy of developing higher-value applications for our
intermediates. Minafin’s GCD team offers a valuable skill set and
fully integrated capabilities in Memphis, Tennessee, seamlessly
linking R&D, scale-up, engineering, and production. We are
grateful to deepen our relationship with Minafin, with whom we
share a common vision for the role that sustainable,
carbon-negative materials can play in creating value
worldwide.”
“We appreciate that the partnership with Origin Materials
recognizes the Minafin GCD team, capabilities, and position as a
global leader in furanic chemicals and materials. We are delighted
to support Origin’s scale-up of their groundbreaking technology for
converting biomass to value-added materials,” said Frederic
Gauchet, Founder & President Minafin Group. “Minafin and Origin
Materials are both deeply committed to accelerating the
commercialization of bio-based and carbon-negative products to
customers worldwide.”
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 Minafin Group The Minafin Group is a leading
developer and manufacturer of fine chemicals with three main areas
of expertise: health chemistry, green chemistry, and challenging
chemistry. Minafin operates six industrial manufacturing sites
across Europe and North America. They provide customers in
pharmaceuticals, cosmetics, agriculture and hi-tech with a range of
proprietary products, custom manufacturing, industrial process
development and services, and multi-purpose green chemistry
formulations. Minafin invests significantly in R&D to create
value for customers by specializing in innovations and eco-friendly
solutions that bring a competitive edge and sustainability. Its
strong industrial capabilities are consolidated through seven
business units: Minakem, Pennakem, Minasolve, Minagro, EcoXtract,
Minascent and Pressure Chemicals, which generated over €300M in
revenue. Founded in 2004 as a privately held industrial company,
Minafin is headquartered in Belgium and employs 900+ staff. For
more information, visit http://minafin.com/.
About Minafin Green Chemistry Division Green Chemistry
Division, a Division of the Belgian Minafin Group, is an innovative
sustainable chemical company with a history of biobased chemicals
development and manufacturing experience. It is comprised of
Pennakem LLC, Minasolve® and EcoXtract®. Pennakem is the largest
worldwide supplier of sustainable furfural-derived biobased
products, with demonstrated value in pharmaceutical, agricultural,
and rubber additive processes and environmentally friendly solvent
applications. Pennakem is the leader in bringing biobased solutions
to growing green chemistry and specialty chemicals markets. For
more information, visit https://pennakem.com/. Founded in 2007,
Minasolve® is a supplier of ingredients and innovative solutions
with a specific focus on personal care markets. Minasolve is
delivering answers and solutions to consumer needs by developing
high quality ingredients with established performance. For more
information, visit https://minasolve.com. EcoXtract® is a
technological solution based on an extraction solvent made of 100%
plantbased carbon, recyclable and whose safety has been proven and
verified by EFSA in 2022. EcoXtract® has a high potential in the
extraction of oils, proteins of plant origin and natural lipophilic
molecules, replacing hexane, a petrochemical neurotoxic for humans,
which is still today the reference solution for food and cosmetic
extraction. For more information, visit https://ecoxtract.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, access to traditional
financing sources, budget and timelines to complete 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 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; 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/20230419005027/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Minafin Media: Sameer Rupani,
Sameer.rupani@minafin.com
Investors: frederic.gauchet@minafin.com
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