Origin Materials Partners with IMDvista on World’s First PET Cap and Closure Manufacturing System

Rhea-AI Summary

Origin Materials has partnered with IMDvista to create the world's first commercial-scale PET cap and closure manufacturing system. This innovative system aims to enhance recycling circularity, enable mono-material containers, lighter packaging, and improved product shelf life. The partnership between Origin and IMD showcases a commitment to sustainability and revolutionizing the beverage packaging industry.

Positive

• Origin Materials is leading the way in carbon negative materials, demonstrating a commitment to sustainable practices.

• The partnership with IMDvista signifies a significant step towards producing environmentally friendly PET caps and closures on a commercial scale.

• By utilizing advanced camera systems developed by IMDvista, Origin Materials can inspect billions of caps per year, ensuring high-quality production.

Negative

• Despite the positive impact on sustainability, there may be challenges in scaling up production and gaining market acceptance for the new PET caps and closures.

• Investing in new manufacturing systems and technologies may pose financial risks for Origin Materials, especially in the initial stages of implementation.

Origin’s manufacturing system is expected to produce the first commercial-scale PET caps and closures

Origin’s sustainable PET caps and closures enhance recycling circularity, enable "mono-material” containers, lighter packaging, and improved product shelf life

WEST SACRAMENTO, Calif. & BRÜGG, Switzerland--(BUSINESS WIRE)-- Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and IMDvista (“IMD”), a Swiss high-tech company specializing in the vision inspection of closures and other packaging components, announced a strategic partnership to produce the world’s first PET cap and closure manufacturing system.

“Best-in-class manufacturing partners like IMD are providing subsystems for our production line. Together we are doing something nobody has done before: we are building the world’s first commercial-scale PET cap and closure manufacturing system,” said Origin Co-CEO and Co-Founder John Bissell. “Our high-throughput system will allow us to bring the recycling, sustainability, and performance benefits of our PET cap and closure solution to the world. We plan to bring many such production lines online, not only to make beverage packaging better and fully recyclable, but containers of nearly every kind.”

Bissell added: “IMD is an excellent partner for Origin as we build our first production line. They are a global leader in high-speed testing systems, headquartered in Switzerland with locations around the world including the United States, Germany, and Taiwan with systems in use on every continent. Their advanced camera systems inspect thousands of closures per minute and give us the ability to inspect billions of caps per year. We are excited to partner with IMD and grateful for their contributions as we launch the first-ever PET cap and closure manufacturing system.”

“At the end of the day, a PET closure is the right solution,” said IMD Chief Sales Officer (CSO) Martin Gerber, who immediately saw the revolutionary potential of Origin’s PET caps and closures. Martin had the opportunity to see Origin’s manufacturing development system in Germany and he was impressed. “I see no reason why this closure will not be successful,” Gerber added.

According to Gerber, IMD has explored many approaches to manufacturing PET caps over the years with customers and partners, but a running production line making closures that meet market requirements is something new, even for IMD’s long-standing CSO with 20 years' experience. Gerber added: “IMD is investing significantly in support of inspection and handling for PET caps, and we are aware that this investment will pay off very quickly.”

“We look forward to showing our PET caps alongside the IMD team at their booth during the upcoming NPE2024 conference in Orlando, Florida,” noted Bissell, who will be speaking at the conference.

Origin and IMD have worked together for over 12 months, in support of Origin’s high-throughput production system for making the world’s first PET caps and closures at commercial scale. The solution is a transformative leap forward in packaging, designing for recycling circularity and improved performance. Origin’s solution improves recyclability, enables light-weighting, and can extend product shelf-life while addressing a greater than $65 billion market. In conjunction with world-class partners like IMD, we are solving the most difficult sustainability challenges, in alignment with our core mission to help transition the world to sustainable materials.

About Origin Materials
Origin is the world's leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials. Our innovative technologies include all-PET caps and closures that bring recycling circularity and enhanced performance to a ~$65 billion market, specialty materials, and our patented biomass conversion platform that transforms carbon into sustainable materials for a wide range of end products addressing a ~$1 trillion market. Origin’s 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 IMDvista – Swiss Made
IMD is a Swiss high-tech company specializing in vision inspection systems in the plastic packaging industry. IMD is the clear market leader for high-speed closure inspection systems, with a focus on closure inspection for bottle, preform, IML and barrier inspection systems. Several thousand IMDvista in-line inspection lines are running successfully around the world. IMD has the expertise to offer complete and single-sourced system solutions out of Switzerland. As a result, IMD has unique know-how of the entire production process. For more information, please visit www.imdvista.ch.

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, recycling, sustainability, and performance benefits, and geographic distribution, and success of Origin Materials’ PET caps and closures and the cap and closure manufacturing system, number of production lines to be brought online, and container types to be addressed by the caps and closures and manufacturing systems. 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 Russia’s military intervention in Ukraine, the impact of severe weather events, and other global health or economic crises; changes in customer demand; and those factors discussed in the Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 5, 2024 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/20240502953875/en/

Origin Materials

Investors: ir@originmaterials.com

Media: media@originmaterials.com

IMDvista

Contact: sales@imdvista.com

Source: Origin Materials

FAQ

What is the partnership between Origin Materials and IMDvista about?

The partnership aims to produce the world's first PET cap and closure manufacturing system.

What are the benefits of Origin's sustainable PET caps and closures?

They enhance recycling circularity, enable mono-material containers, lighter packaging, and improved product shelf life.

What market is Origin Materials primarily focused on with this partnership?

The beverage packaging market, with plans to expand to containers of various types.

Where are IMDvista's headquarters located?

IMDvista is a Swiss high-tech company with headquarters in BRÜGG, Switzerland.

What event will Origin and IMD showcase their PET caps at?

They will display their PET caps at the NPE2024 conference in Orlando, Florida, alongside the IMD team.