Kuraray signed a multi-year capacity reservation agreement to purchase sustainable carbon negative materials from Origin Materials
WEST SACRAMENTO, Calif. & TOKYO--(BUSINESS WIRE)--Jun. 16, 2022--
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.
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/
Source: Origin Materials, Inc.