Origin Materials Completes Lifting and Installation of Key Production Modules for Origin 1 Six Months Ahead of Plan

Rhea-AI Summary

Origin Materials, a leader in carbon negative materials, announced that it has successfully installed all key production modules for its first manufacturing plant, Origin 1, six months ahead of schedule. This milestone was achieved in October 2021. Construction is proceeding on budget and is expected to be completed by the end of 2022. The company plans to provide additional updates during its upcoming earnings call on November 11, 2021.

Positive

• Installed key production modules six months ahead of schedule.
• Construction is on budget and on track for completion by end of 2022.

Negative

• None.

New video highlights construction milestone and progress

WEST SACRAMENTO, Calif.--(BUSINESS WIRE)-- 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, is pleased to announce that it has successfully lifted and installed all its previously fabricated key production modules for its first manufacturing plant (“Origin 1”) in October 2021, six months ahead of schedule as announced in April 2021. The construction of Origin 1 is on budget and on track for completion by the end of 2022, with commissioning and production start-up beginning thereafter.

A new video marking this key construction milestone for Origin 1 is embedded into this press release and is also available on Origin’s Investor Relations site: https://investors.originmaterials.com/

Origin Materials will provide additional updates on Origin 1 construction during its third quarter 2021 earnings conference call at 5:00 p.m. Eastern Time on Thursday, November 11, 2021.

Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://investors.originmaterials.com.

The conference call can be accessed live over the phone by dialing 1-855-327-6837 (domestic) or +1-631-891-4304 (international). A telephonic replay will be available approximately two hours after the call by dialing 1-844-512-2921, or for international callers, +1-412-317-6671. The conference ID for the live call and pin number for the replay is 10016941. The replay will be available until 11:59 p.m. Eastern Time on November 25, 2021.

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 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.

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; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005377/en/

Origin Materials

Investors:

ir@originmaterials.com

Media:

media@originmaterials.com

Source: Origin Materials, Inc.

FAQ

What milestone was announced by Origin Materials on October 2021?

Origin Materials announced the successful installation of all key production modules for its first manufacturing plant, Origin 1, six months ahead of schedule.

When does Origin Materials plan to complete the construction of Origin 1?

The construction of Origin 1 is expected to be completed by the end of 2022.

What is the ticker symbol for Origin Materials?

The ticker symbols for Origin Materials are ORGN and ORGNW.

When will Origin Materials provide updates on the Origin 1 construction?

Updates on the Origin 1 construction will be provided during the third quarter 2021 earnings conference call on November 11, 2021.