Origin Materials Announces Commencement of Commercial-Scale Production at Origin 1
October 11 2023 - 7:00AM
Business Wire
Origin Materials, Inc. (“Origin,” “Origin Materials,” or the
“Company”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon
negative materials company with a mission to enable the world’s
transition to sustainable materials, today announced the
commencement of commercial-scale production at Origin 1, located in
Sarnia, Ontario, Canada, the first commercial plant of its
kind.
The state-of-the-art plant scales up the Company’s core
technology platform for converting sustainable wood residues into
intermediate chemicals, including CMF, HTC, and oils and
extractives. Origin 1 enables, for the first time, the
commercial-scale production of Origin’s versatile chemical
building-blocks, which can decarbonize and improve the performance
of a wide range of end-products, including bio-based apparel and
textiles, green tires for the automotive industry, and bio-based
and fully recyclable packaging, targeting a ~$1 trillion
addressable market.
“This start of production at Origin 1 is a key inflection point
in our effort to decarbonize the world’s physical goods,” said John
Bissell, Co-Founder and Co-CEO of Origin Materials. “As an
operating chemical plant, Origin 1 proves our technology’s
scalability and brings online an important manufacturing capability
that helps us meet the growing demand for our technology and
products as the world moves aggressively to a zero-carbon future.
We are excited to expand the deployment of our platform now that we
have achieved commercial-scale production.”
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.
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,
ability to enter new end-markets, ability to develop new product
categories, commercial and operating plans, and product development
plans. 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 Quarterly Report on Form 10-Q filed with the U.S.
Securities and Exchange Commission (“SEC”) on August 9, 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 disclaims 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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