Strategic collaboration to convert
carbon-negative materials from Origin into high-performance
materials that replace carbon black in automobile tires
Origin Materials, Inc. (“Origin” and “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 Mitsubishi Chemical Holdings Group
(“MCHG”), Japan’s leading diversified chemicals and advanced
materials producer, today announced a partnership to develop
advanced chemicals and materials built on Origin Materials’
patented technology platform.
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As part of the strategic partnership, MCHG will convert
hydrothermal carbon (HTC) produced by Origin into high-performance
analogs of specialty carbon black materials. These materials will
be tested and further developed with one of the world’s largest
tire manufacturers. The partnership will leverage MCHG’s global
supply chain strength, access to Japanese and international
markets, and technical innovation capabilities.
The global market for carbon black is projected to reach $26
billion by 2025, expanding at 6% CAGR, according to Grand View
Research, Inc. Approximately 70% of the world’s carbon black is
used as a reinforcing filler in tires.
Origin’s patented technology platform, which turns the carbon
found in sustainable wood residues into useful materials, can help
revolutionize tire manufacturing by significantly reducing the
products’ carbon footprint as compared to tires made with
fossil-based carbon black.
The partnership includes a joint development agreement (JDA)
between Origin, and the Carbon Materials business unit of MCHG. The
partnership reflects MCHG’s efforts to achieve carbon neutrality by
utilizing biomass in the development of materials while attaining
sustainable growth.
Origin Materials Commentary:
“We look forward to partnering with Mitsubishi Chemical Holdings
Group to develop new, better materials for making tires while
dramatically reducing carbon emissions,” said Origin Materials
Co-CEO Rich Riley. “Mitsubishi Chemical Holdings Group’s deep
manufacturing capabilities, technical expertise, and global
customer network can enable broad adoption of Origin’s technology
and help drive the ‘once in a planet’ shift to sustainable
materials taking place in the automotive industry.”
Mitsubishi Chemical Holdings Group Commentary:
Mitsubishi Chemical Holdings Group’s carbon black is a
tech-based and innovative industry-leading product used for
prestige tires, paints, and LCDs. MCHG holds a policy toward carbon
neutrality by 2050. MCHG already put carbon black from plant oil
into the market in 2012. Joint Development with Origin Materials
will further accelerate MCHG’s efforts toward carbon neutrality and
sustainable growth.
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 Mitsubishi Chemical Holdings Group Mitsubishi
Chemical Holdings Group seeks to provide solutions to environmental
and social issues and to contribute to the sustainable development
of people, society and the Earth through its businesses built on a
foundation of chemistry. In this way, we aim to realize KAITEKI – a
condition that contributes to sustainable development that is
optimal for people, society, and the Earth.
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 and estimated total addressable market. 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 Annual Report on Form 10-K filed
with the SEC on March 1, 2022 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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