Kolon signed a multi-year capacity reservation
agreement to purchase sustainable carbon-negative materials from
Origin Materials
Materials include novel polymers and drop-in
solutions for select applications, with an initial focus on
automotive applications
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 Kolon Industries, Inc. (“Kolon,” “Kolon
Industries”), a global leader in chemicals and materials, today
announced a strategic partnership to industrialize novel polymers
and drop-in solutions for select applications, with an initial
focus on automotive applications.
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the full release here:
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This strategic partnership aims to rapidly develop and
industrialize new sustainable carbon-negative products based on
Origin Materials’ patented technology platform, leveraging Kolon’s
polymerization expertise, application development and supply chain
strength. As part of the partnership, Kolon signed a multi-year
capacity reservation agreement to purchase sustainable
carbon-negative materials from Origin Materials.
The partnership includes co-development aimed at commercializing
polyethylene furanoate (“PEF”), a polymer with an attractive
combination of performance characteristics for packaging and other
applications, including enhanced barrier properties when compared
with polyethylene terephthalate (“PET”), degradability, and other
qualities. Origin Materials’ technology platform is expected to
produce cost-competitive, sustainable, carbon-negative
furandicarboxylic acid (“FDCA”), the primary precursor to PEF.
Kolon Industries’ deep polymer expertise in novel FDCA-based
polymers, including PEF, is expected to introduce world-class
carbon-negative polymers and chemistries.
Origin Materials and Kolon believe that Origin’s platform,
together with Kolon’s demonstrated expertise in polymer chemistry,
manufacturing and application development, can accelerate the
deployment of environmentally sustainable products and create
profitable, competitively advantaged business opportunities for
both companies.
“Origin is a pioneer and a global leader in carbon negative
chemical technology, and Kolon Industries is a world leader in
chemicals and polymers,” said Sung Han, Chief Technology Officer of
Kolon Group. “Therefore, the collaboration between these two
companies will ensure both carbon-negative and cost-effective
Sustainable Polymer Economy, which will further enable the
realization of the Circular Economy.”
“Kolon is a highly innovative company and a world leader in
polymer development,” said John Bissell, Co-CEO of Origin
Materials. “We are thrilled to work together to enable our shared
vision for a net zero material economy. This partnership reflects
both companies’ commitment to sustainable innovation.”
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. Over the past 10 years, 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 Kolon Industries, Inc. Kolon Industries,
headquartered in Seoul, Korea, and founded in 1957, is an
innovative chemical and material company. Kolon Industries’ vision
is Lifestyle Innovator, enriching people’s lifestyle through
chemicals and materials that improve and sustain our planet. Kolon
Industries has over 60 years of experience in polyester
polymerization and its application technology including fiber, film
and others. Kolon Industries’ deep experience and proven success in
cutting-edge polymer commercialization is expected to secure novel
bio-based polymers.
For more information, visit www.kolonindustries.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, 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; 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 Origin Materials quarterly report on
Form 10-Q filed with the SEC on August 16, 2021 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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Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
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