- Packaging Matters and Origin Materials will partner to develop
advanced packaging materials, including polyethylene furanoate,
“PEF,” a next-generation polymer. The project will leverage Origin
Materials’ expertise with FDCA, a chemical from which PEF is
made.
- Packaging Matters will transition its virgin petroleum-based
PET purchases to sustainable carbon-negative PET from Origin
Materials. Origin Materials’ sustainable carbon-negative PET is
physically and chemically identical to petroleum-based PET and
equally recyclable.
- Origin Materials, the world’s leading carbon-negative materials
company, will leverage its patented technology platform, which
turns cellulose from sustainable wood residues into
cost-advantaged, carbon negative materials that reduce the need for
fossil resources.
Origin Materials, Inc. (“Origin Materials”), the world’s leading
carbon negative materials company, and Packaging Matters, a
packaging innovation leader, today announced an agreement to
develop advanced packaging solutions, including a next-generation
polymer, polyethylene furanoate (“PEF”). Packaging Matters had
previously entered into a supply agreement to purchase sustainable
carbon-negative PET from Origin Materials to create next-generation
packaging.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210412005258/en/
The partnership represents a potential breakthrough in the
commercialization of PEF, a polymer with an attractive combination
of performance characteristics for packaging, including enhanced
barrier properties, degradability, and other qualities. Origin
Materials’ technology platform is expected to produce sustainable
carbon-negative FDCA, the precursor to PEF, cost-competitively, and
the partnership aims to enable Packaging Matters to be first-mover
to bring the novel product to its customers. Furthermore, this
development work for PEF is intended to facilitate the creation of
additional novel polymers with performance characteristics that
meet the needs of consumers and Packaging Matters’ customers, while
delivering new types of packaging for today’s decarbonizing
economy.
Many of today’s clothing, carpets, automotive parts, and other
products are made from chemicals and plastics derived from
petroleum. During petroleum extraction and processing, greenhouse
gases are released into the atmosphere, contributing to global
warming and climate change. Origin Materials’ technology platform,
which is based on sustainable wood residues, can supply molecularly
identical replacements for many of these materials normally sourced
from petroleum, but with the expected effect of removing greenhouse
gases from the atmosphere rather than adding more.
In the initial phase of the partnership, Origin Materials will
supply sustainable carbon-negative PET to Packaging Matters. As the
companies make progress on developing suitable PEF applications,
some or potentially all of the supply will transition to
sustainable PEF with an expected carbon-negative footprint.
Origin Materials’ sustainable carbon-negative PET is physically
and chemically identical to petroleum-based PET, making it equally
recyclable within the existing recycling infrastructure with no
disruption to recycling streams or special sorting or collection
requirements. Packaging Matters intends to use the sustainable
carbon-negative PET from Origin Materials in its facility in
Visalia, CA to manufacture packaging products for its fresh fruits,
vegetables, and salads customers.
Origin Materials believes its technology platform, which turns
inexpensive, sustainable wood residues into carbon-negative
materials, will 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 Materials’ technology platform is expected
to provide stable pricing largely de-coupled from the petroleum
supply chain, which is exposed to more volatility than supply
chains based on sustainable wood residues.
“Origin Materials’ mission is to provide carbon-negative
material solutions in a world-fast transitioning to net zero
carbon,” says Origin Materials co-CEO Rich Riley. “Partnering with
Packaging Matters is a natural fit because by creating
better-performing, carbon-negative packaging solutions together, we
aim to deliver what the most innovative companies in the world are
demanding and to show the packaging industry the path to a
low-carbon future.”
“Packaging Matters is a leader in packaging innovation with over
70 years of experience,” says Chuck Buff, founder and CEO of
Packaging Matters. “By partnering with Origin Materials and
purchasing sustainable carbon-negative PET, we are one step closer
to achieving our goal of delivering a carbon neutral packaging
solution that drops in seamlessly to the existing recycling
infrastructure. Packaging Matters has been a pioneer in its use of
recycled PET and remains committed to including post-consumer
content in its packaging. Yet even with high recycled content, the
resin itself represents more than half of the carbon emissions
associated with our products. Origin Materials can help solve this
problem. By replacing petroleum-based PET with Origin Materials’
sustainable carbon-negative PET and PEF, we aim to create new,
better-performing products, with competitive and more stable
pricing. And at the same time, we are dramatically reducing the
carbon footprint of the products our customers purchase. We are
thrilled to be working with Origin Materials to create the future
of packaging.”
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the
world’s leading carbon negative materials company. Origin
Materials’ mission is to enable the world’s transition to
sustainable materials. Over the past 10 years, Origin Materials has
developed a platform for turning the carbon found in non-food
biomass into useful materials, while capturing carbon in the
process. Origin Materials’ patented drop-in core technology,
economics and carbon impact have been validated by trusted third
parties and are supported by a growing list of major global
customers and investors. Origin Materials’ first plant is expected
to be operational in 2022 with a second, full-scale commercial
plant expected to be operational by 2025 and plans for additional
expansion over the next decade.
On February 17, 2021, Origin Materials and Artius Acquisition
Inc. (“Artius”) (Nasdaq: AACQU, AACQ), a publicly-traded special
purpose acquisition company, announced a definitive agreement for a
business combination that will result in Origin Materials becoming
a public company. Upon closing of the transaction, expected in the
second quarter of 2021, the combined company will be named Origin
Materials and remain listed on the Nasdaq under the new ticker
symbol “ORGN.” The transaction is expected to fully fund Origin
Materials until EBITDA positive, and allows Origin Materials to
scale and commence commercial production to meet signed customer
offtake and capacity reservations of ~$1 billion across a diverse
range of industries.
For more information, visit www.originmaterials.com.
About Packaging Matters
Packaging Matters was founded by Chuck Buff. Packaging Matters
is active in PET and aluminum packaging and counts several Fortune
100 food companies as customers, with some relationships extending
over 50 years. Mr. Buff has built and sold several leading
packaging companies responsible for developing microwavable plastic
containers as well as fresh produce containers. The Packaging
Matters management team has worked with PET for over 40 years, with
a particular emphasis on enhancing the sustainability footprint of
PET packaging. Packaging Matters currently has three manufacturing
facilities in the United States.
For more information, visit www.packagingmatters.com. To learn
more about carbon negative PET packaging opportunities, please
contact info@packagingmatters.com.
Important Information for Investors and Stockholders
In connection with the proposed business combination
transaction, Artius filed a registration statement on Form S-4 (the
“Registration Statement”) with the SEC on March 9, 2021, which
includes a preliminary proxy statement to be distributed to holders
of Artius’ ordinary shares in connection with Artius’ solicitation
of proxies for the vote by Artius’ stockholders with respect to the
proposed transaction and other matters as described in the
Registration Statement, as well as the prospectus relating to the
offer of securities to be issued to Artius’ and Origin Materials’
stockholders in connection with the proposed transaction. After the
Registration Statement has been declared effective, Artius will
mail a definitive proxy statement, when available, to its
stockholders. Investors and security holders and other
interested parties are urged to read the proxy
statement/prospectus, any amendments thereto and any other
documents filed with the SEC carefully and in their entirety when
they become available because they will contain important
information about Artius, Origin Materials and the proposed
transaction. The documents relating to the proposed transaction
(when they are available) can be obtained free of charge from the
SEC’s website at www.sec.gov. Free copies of these documents, once
available, may also be obtained from Artius by directing a request
to: Artius Management LLC, 3 Columbus Circle, Suite 2215, New York,
New York 10019.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including with
respect to the proposed transaction between Origin Materials and
Artius. 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, product
development plans and projected financial information. 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 and
Artius. 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 Materials;
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; Origin Materials and Artius may
be unable to successfully or timely consummate the proposed
business combination, including the risk that any regulatory
approvals may not obtained, may be delayed or may be subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the business combination, or
that the approval of the stockholders of Artius or Origin Materials
may not be obtained; failure to realize the anticipated benefits of
the business combination; the amount of redemption requests made by
Artius’ stockholders, and those factors discussed in the
Registration Statement under the heading “Risk Factors,” and other
documents Artius 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.
Participants in the Solicitation
Artius, Origin Materials and their respective directors,
executive officers and employees and other persons may be deemed to
be participants in the solicitation of proxies from Artius’
shareholders in connection with the proposed business combination.
Information about Artius’ directors and executive officers and
their ownership of Artius’ securities is set forth in the
Registration Statement described above. Additional information
regarding the interests of those persons and other persons who may
be deemed participants in the proposed transaction may be obtained
by reading other documents Artius has filed, or will file, with the
SEC regarding the proposed business combination, including the
definitive proxy statement when it becomes available.
Non-Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of Artius, the combined company or Origin Materials, nor shall
there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210412005258/en/
Investors: ir@originmaterials.com
Media: media@originmaterials.com
Artius Acquisition (NASDAQ:AACQ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Artius Acquisition (NASDAQ:AACQ)
Historical Stock Chart
From Apr 2023 to Apr 2024