Kuraray signed a multi-year capacity
reservation agreement to purchase sustainable carbon negative
materials from Origin 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 Kuraray Co., Ltd (“Kuraray”), a leading manufacturer
of specialty chemicals, fibers, and other materials, today
announced a strategic partnership to commercialize advanced carbon
negative materials for diverse polymer applications.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220616005048/en/
As part of the strategic partnership, Kuraray signed a capacity
reservation agreement with Origin Materials to purchase
sustainable, carbon negative intermediate chemicals used in the
large-scale synthesis of many polymers, including PTA, PET, and
polyamide. The materials from Origin will enhance Kuraray’s mission
to develop innovative solutions with unique products and cleaner
technologies to improve the natural environment and enhance quality
of life for people everywhere.
Origin’s patented technology platform, which turns the carbon
found in sustainable wood residues into useful materials, can help
revolutionize the production of a wide range of end products and
supports industry’s transition to sustainable materials and lower
GHG emissions.
“We are thrilled to partner with Kuraray, a leading global
manufacturer with a deep commitment to the highest standards for
performance and sustainability,” said Rich Riley, Co-CEO of Origin
Materials. “Together we will bring to market carbon negative
materials that will play a key role in reducing the climate impact
of a wide array of specialty chemicals and materials. We look
forward to supporting Kuraray’s sustainability journey during this
‘once in a planet’ transition.”
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 Kuraray
Headquartered in Tokyo, Kuraray is a global specialty chemicals
company and one of the largest suppliers of industrial polymers and
synthetic microfibers for many sectors of industry. Kuraray was
established in 1926 with the objective of commercializing rayon,
and the Company’s business essentially developed around fibers and
textiles. In 1950, the Company achieved a corporate milestone as
the first in the world to bring polyvinyl alcohol synthetic fiber
to market. In subsequent years, Kuraray expanded its operations in
the chemicals-related business with its proprietary technology
equivalent to global competitiveness. With a solid technical
foundation, Kuraray’s unique product portfolio is widely
represented in the chemical, resin, high-performance materials,
fibers, and medical products markets.
For more information, visit www.kuraray.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 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220616005048/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Origin Materials (NASDAQ:ORGNW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Origin Materials (NASDAQ:ORGNW)
Historical Stock Chart
From Jul 2023 to Jul 2024