Origin’s FDCA, PTA, and pX products certified
as 100% biobased
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, announced today that it has earned the U.S. Department
of Agriculture (USDA) Certified Biobased Product label for multiple
additional products. The certification affirms that Origin’s
furandicarboxylic acid (“FDCA”), purified terephthalic acid
(“PTA”), and para-xylene (“pX”), when produced at full commercial
capacity, are expected to be 100% biobased, allowing Origin to
display a unique USDA label highlighting this designation.
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This certification adds to Origin’s previously announced USDA
Certified Biobased Products, which includes chloromethyl furfural
(“CMF”) and hydrothermal carbon (“HTC”).
Third-party verification for a product’s biobased content is
administered through the USDA BioPreferred Program, an initiative
created by the 2002 Farm Bill (and reauthorized by the 2018 Farm
Bill).
As certified 100% biobased products, Origin’s FDCA, PTA and pX
qualify for mandatory federal purchasing by meeting or exceeding
the minimum biobased content requirements for one or more product
categories identified by the USDA.
FDCA is a raw material whose commercial applications include
surfactants, epoxy resins, and the next-gen polymer PEF
(polyethylene furanoate). PTA is a fundamental feedstock for a
broad variety of market applications, including PET polyester
packaging, textiles, clothing, plastics, car parts, tires,
carpeting, and toys. Para-xylene is a versatile chemical feedstock
used in the large-scale synthesis of widely used polymers including
PTA and PET for applications such as textiles, plastic packaging,
clothing, and automotive components.
“Earning the USDA Certified Biobased Product label for
additional products marks important progress in our mission to
enable the world’s transition to sustainable, carbon-negative
materials,” said Origin Materials Co-CEO Rich Riley. “These
products represent a significant global market opportunity, and we
are pleased that Origin’s FDCA, PTA, and pX have joined CMF and HTC
in the list of Origin products that have achieved the
certification.”
“We applaud Origin Materials for earning the USDA Certified
Biobased Product label,” said Vernell Thompson, USDA BioPreferred
Program. “Products from Origin Materials will contribute to an
ever-expanding marketplace that adds value to renewable agriculture
commodities, creates jobs in rural communities, and decreases our
reliance on petroleum.”
Managed by the U.S. Department of Agriculture (USDA), the
BioPreferred Program aims to increase the purchase and use of
biobased products. The program's purpose is to spur economic
development, create new jobs, and provide new markets for farm
commodities. The increased development, purchase, and use of
biobased products reduces our nation's reliance on petroleum,
increases the use of renewable agricultural resources, and
contributes to reducing adverse environmental and health
impacts.
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 the USDA BioPreferred Program and Certified Biobased
Product label
The BioPreferred Program is a USDA-led initiative that assists
the development and expansion of markets for biobased products. The
BioPreferred Program is transforming the marketplace for biobased
products through two initiatives: mandatory purchasing requirements
for federal agencies and federal contractors and voluntary product
certification and labeling.
Biobased products span a diverse range of applications, such as
lubricants, cleaning products, chemicals, and bioplastics. The USDA
Certified Biobased Product label communicates a product's biobased
content. Expressed as a percentage, biobased content is the ratio
of non-fossil organic carbon (new organic carbon) to total organic
carbon in a product. New organic carbon is derived from
recently-created materials. The total organic carbon in a product
consists of new organic carbon and old organic carbon that
originates from fossil carbon materials, such as petroleum, coal,
or natural gas. More than 3,500 products have earned the USDA
Certified Biobased Product label.
To learn more about the USDA Certified Biobased Product label
please visit www.biopreferred.gov, and follow on Twitter at
http://twitter.com/BioPreferred.
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;
failure to realize the anticipated benefits of the business
combination; and those factors discussed in the Quarterly Report on
Form 10-Q filed with the SEC on May 9, 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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version on businesswire.com: https://www.businesswire.com/news/home/20220602005123/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
USDA BioPreferred Program Vernell Thompson 202.720.4145
vernell.thompson@dm.usda.gov
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