The Green Chemistry Division of Minafin and
Origin are entering into a strategic partnership to industrialize
specialty chemicals based on Origin’s carbon-negative
materials.
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 of the Minafin Group
(“Minafin”), a global specialty chemical company, are entering into
a strategic partnership to industrialize high-value specialty
materials based on Origin’s carbon-negative materials.
The partnership includes multiple collaboration areas and is an
important milestone for bringing cost-competitive biobased products
to the market, with applications in the pharmaceutical,
agricultural, cosmetics and personal care, and automotive
industries. As part of the partnership, Minafin affiliate Pennakem
aims to develop new technologies with Origin to further expand the
market for Pennakem’s biobased products. Through this partnership,
Origin aims to develop and industrialize additional high-value
products based on its core technology platform, leveraging the
proprietary technologies, manufacturing know-how and customer
relationships of Minafin.
In addition, Minafin business unit EcoXtract® is in discussions
with Origin to commercialize its revolutionary biobased extraction
process using sustainable carbon-negative materials produced by
Origin. The EcoXtract® process efficiently extracts useful plant
oils for food, cosmetics, and other applications.
“Partnering with the Green Chemistry Division of Minafin is a
significant milestone in our mission to transition the world to
sustainable materials,” said Origin Materials Co-CEO Rich Riley.
“The opportunity for working together is remarkably broad, and we
are excited to collaboratively develop high-value products. Minafin
brings technologies and know-how to the table that will further
enable us to deliver value across a broad spectrum of specialty
chemicals end markets.”
“This partnership with Origin Materials will play a significant
role in realizing further potential for our products and
technologies across the globe and attests to the new structure
within Minafin Group,” added Gust Desmedt, CEO of the Green
Chemistry Division of Minafin. “This partnership will enable our
customers to accelerate their switch to our innovative biobased
alternatives through improved competitiveness and supply
reliability.”
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 Pennakem, LLC Pennakem, an affiliate of the Belgian
Minafin Group, is an innovative specialty chemical company with
over 60 years of biobased chemicals development and manufacturing
experience. Pennakem is the largest worldwide supplier of specialty
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/.
About EcoXtract® EcoXtract®, a business unit of the
Belgian Minafin Group, is bringing to the feed market a 100%
biobased and safe extraction solution for oils, plant proteins and
natural ingredients. This breakthrough and award-winning innovation
is biobased (made from non-food feedstocks), safer for human health
(same classification as ethanol) and with CO2 impact ten times
lower than the currently used petrochemical solvent. For more
information, visit https://ecoxtract.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 €243M in
revenue in 2020. 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/.
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 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; 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 November 12, 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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version on businesswire.com: https://www.businesswire.com/news/home/20220207005102/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Minafin Media: Gust Desmedt, gust.desmedt@minafin.com
Project: Bharat Boppana, Bharat.Boppana@pennakem.com
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