Partnership Expands Origin’s Relationships with Network of Automotive Manufacturers and Suppliers
WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Oct. 13, 2021--
Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company, announced today that it has joined the Drive+ platform. The Drive+ platform was launched by Drive Sustainability, a partnership of 11 global automotive manufacturers that strives to enhance sustainability throughout the automotive industry. Through the Drive+ platform, Origin will have the opportunity to collaborate more closely with a network of automotive manufacturers, engage directly with other automotive suppliers, and deepen relationships across the industry.
The new partnership with Drive+, which is facilitated by CSR Europe (The European Business Network for Corporate Sustainability and Responsibility), will allow Origin Materials to collaborate with Drive Sustainability Partners on raw materials standards, carbon neutrality and other key sustainability topics in the automotive supply chain. The network of 11 auto manufacturers consists of BMW Group, Daimler AG, Ford, Honda, Jaguar Land Rover, Scania CV AB, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars and Volvo Group.
“We are thrilled to join the Drive+ platform and to partner on our shared goal of transitioning the automotive supply chain to sustainable materials and practices,” said Origin Materials co-CEO Rich Riley. “The automotive industry is in the midst of a massive transformation to net zero. By working together with Drive+ and their sustainability partners, Origin Materials is poised to help turn those ambitions into reality. This collaboration is a significant step forward in our mission to enable the world’s transition to sustainable materials. We expect our carbon negative chemicals and materials platform to be deployed across a diverse array of mobility applications including fabrics, plasticizers, seat foams, engineered polymers, tires, and hoses just to name a few.”
“We are excited to welcome Origin Materials to the Drive+ Collaborative Platform,” said Michel Hublet, Senior Director of CSR Europe. “The Drive+ mission is to reinforce the sustainability of the automotive industry, and Origin Materials will be a great contributor as we work to foster collaboration between the automotive suppliers and car manufacturers of the Drive Sustainability Partnership.”
The collaboration deepens Origin’s engagement with the auto sector, building on the company’s partnerships with Ford, Solvay, Mitsubishi Gas Chemical and AECI to develop and industrialize new materials to drive decarbonization in the automotive industry.
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. Over the past 10 years, 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 an ~$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 Drive+ Platform
Drive+ is the platform where automotive Tier-1 suppliers and supplier associations can engage in a systematic dialogue with OEM partners of Drive Sustainability about common sustainability challenges and find joint solutions. Ultimately, Drive+ helps suppliers to meet Drive Sustainability expectations and cascade principles of sustainable business conduct into supply chains.
For more information, visit www.drivesustainability.org/driveplus/.
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 Origin Materials quarterly report on Form 10-Q filed with the SEC on August 16, 2021 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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Source: Origin Materials, Inc.