Origin Materials and Sustainea Launch Strategic Partnership to Develop 100% Bio-Based Materials
Sustainea and Origin Materials signed a partnership agreement to develop
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 Sustainea Bioglycols (“Sustainea”), a joint venture between Braskem (NYSE: BAK) and Sojitz Corporation, today announced a strategic partnership centered on advanced bio-based materials produced using Origin’s technology platform and Sustainea’s bio-based glycol products and market expertise.
As part of the partnership, Sustainea signed two multi-year capacity reservation agreements to purchase renewable chemicals from Origin Materials, including bio-based PTA and bio-based FDCA. PTA is a fundamental feedstock for a broad variety of market applications, including PET polyester packaging, textiles, clothing, plastics, car parts, tires, carpeting, and toys. FDCA is a raw material whose commercial applications include surfactants, epoxy resins, and the next-gen polymer PEF (polyethylene furanoate).
“We are thrilled to partner with Sustainea, a joint venture formed by two innovative global companies: Braskem, the largest thermoplastic resin producer in the
Origin expects to produce bio-based FDCA and bio-based PTA using its patented technology platform, which turns the carbon found in sustainable wood residues into useful products while capturing carbon in the process.
“We are very excited to join forces with Origin on the pathway to a low carbon future,” stated Gustavo Sergi, CEO of Sustainea. “Bringing to the market bioMEG and bioPET has always been our ambition and the partnership with Origin represents an important step towards this goal. The polyester and PET markets grow 3.5 million tons every year, so we have an important mission to develop our operation to supply the industry as soon as possible. From textiles to bottles, our bioMEG and bioPET will be there to be quickly absorbed by the market as a drop-in solution. Finally, these biopolymers are not only bio-based but also fully recyclable. This will contribute to a circular economy and to the reduction of CO2 emissions.”
About Origin Materials
Headquartered in
For more information, visit www.originmaterials.com.
About Sustainea Bioglycols
Sustainea is a dynamic and innovative company focused on sustainable chemistry. Established as a joint venture between Braskem and Sojitz Corporation, Sustainea is a company born with the desire to be the global leader in bio-MEG and transform the bottles and textiles market through innovation in renewable chemicals, generating a positive impact for everyone. Sustainea’s business plan includes the construction of three industrial plants with annual production capacity of 700,000 tons of bio-based MEG, with the startup of the first plant in 2027. With a strong emphasis on research and development, Sustainea's commitment to environmental stewardship and their innovative approach to creating renewable materials aligns perfectly with the goal of developing sustainable alternatives to conventional plastics. Headquartered in
For more information, visit www.sustaineabio.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, estimated total addressable market, ability to enter new end-markets, 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
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Origin Materials
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Sustainea Bioglycols
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Source: Origin Materials, Inc.