Terphane signed a capacity reservation
agreement to purchase bio-based PEF polymer from Origin Materials
for use in industrial and film packaging applications
Origin Materials, Inc. (“Origin,” “Origin Materials,” or the
“Company”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon
negative materials company with a mission to enable the world’s
transition to sustainable materials, and Terphane, part of Tredegar
Corporation (NYSE:TG), a global leader in specialty PET polyester
films (“BOPET”), announced today a strategic partnership to produce
sustainable, high-performance bio-polymer films.
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the full release here:
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As part of the partnership, Terphane signed a multi-year
capacity reservation agreement to purchase the advanced bio-polymer
PEF for use in film applications, including food and beverage
packaging and high-value industrial applications. BOPEF is
biaxially oriented PEF, and BOPET is biaxially oriented PET. These
stretched polymer films are valued for their strength,
transparency, barrier properties, and electrical insulation.
“We are pleased to partner with Terphane, a trusted global
leader in films with expansive customer and partner relationships,”
said Rich Riley, Co-CEO of Origin Materials. “We are thrilled to
work together to develop advanced, performance-enhanced products
that help to enable a net zero material economy. This partnership
represents further progress in Origin’s mission to enable the
world’s transition to sustainable materials.”
According to Marcos Vieira, global director of R&D for
Terphane, “The development of this film will be critical to our
efforts to meet this new global demand for sustainable flexible
packaging solutions. The film is partially made from PEF and has
all the traditional properties of a regular PET film, including
post-consumption recycling. In addition, PEF provides an excellent
thermal resistance and superior barrier performance, extending the
shelf life of the packaged products.” Vieira adds that initial
tests in the U.S. proved the material works perfectly in extrusion
lines.
Origin Materials’ patented technology platform represents a
potential breakthrough in the commercialization of cost-competitive
and low-carbon PEF. Made from furandicarboxylic acid (“FDCA”), the
primary precursor to PEF, Origin PEF is a polymer with an
attractive combination of sustainability and performance
characteristics for packaging including enhanced barrier
properties. Origin’s PEF is expected to be 100% plant-based, fully
recyclable, have attractive unit economics, and to offer a
significantly reduced carbon footprint, with superior strength,
thermal properties, and barrier properties compared to today’s
widely used petroleum-based materials.
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, fuels, 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 Terphane
Since its founding in 1976, Terphane has developed technologies
and processes to produce specialty bioriented polyester films
(BOPET). With significant experience and technical knowledge in
film production, coating, and metallization, the company is
recognized for its vertical integration, from resin to specialty
films. Terphane is a global leader in specialty PET films, and a
key company in Latin America. Terphane is a subsidiary of
U.S.-based Tredegar Corporation (NYSE:TG).
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,
ability to develop new product categories, commercial and operating
plans, product development plans, and ability to realize the
anticipated benefits of the partnership 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; the uncertainty of the projected
financial information with respect to Origin; disruptions and other
impacts to Origin’s business as a result of outbreaks such as the
COVID-19 pandemic, Russia’s military intervention in Ukraine, the
impact of severe weather events, 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 U.S.
Securities and Exchange Commission on May 10, 2023, 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/20230803017982/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Terphane PR Liliam Benzi ldbcom@uol.com.br
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