STOCK TITAN

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

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
partnership

Origin Materials and PackSys Global have partnered to create the world's first PET cap and closure manufacturing system. This innovative system is set to revolutionize the industry by producing sustainable PET caps and closures at a commercial scale, enhancing recycling circularity, enabling mono-material containers, lighter packaging, and improved product shelf life. With Origin's focus on sustainability and PackSys Global's expertise in packaging machines, this collaboration aims to address the pressing sustainability challenges in various industries.

Origin Materials e PackSys Global hanno formato una partnership per creare il primo sistema di produzione di tappi e chiusure in PET al mondo. Questo sistema innovativo mira a rivoluzionare il settore producendo tappi e chiusure in PET sostenibili su scala commerciale, migliorando la circolarità del riciclo, consentendo contenitori monomateriale, imballaggi più leggeri e una vita più lunga del prodotto. Con l'attenzione di Origin alla sostenibilità e l'esperienza di PackSys Global nelle macchine per imballaggio, questa collaborazione aspira a risolvere le sfide urgenti di sostenibilità in vari settori.
Origin Materials y PackSys Global se han asociado para crear el primer sistema de fabricación de tapas y cierres de PET del mundo. Este sistema innovador promete revolucionar la industria al producir tapas y cierres de PET sostenibles a escala comercial, mejorando la circularidad del reciclaje, permitiendo envases de un solo material, embalajes más ligeros y una mejor vida útil del producto. Con el enfoque de Origin en la sostenibilidad y la experiencia de PackSys Global en máquinas de embalaje, esta colaboración pretende abordar los desafíos de sostenibilidad urgentes en varias industrias.
Origin Materials와 PackSys Global은 세계 최초의 PET 뚜껑 및 폐쇄 시스템 제조에 협력하였습니다. 이 혁신적인 시스템은 상업 규모에서 지속 가능한 PET 뚜껑과 폐쇄를 생산함으로써 업계에 혁명을 일으킬 것으로 기대되며, 재활용 순환성을 향상시키고, 단일 소재 컨테이너를 가능하게 하며, 포장을 가볍게 하고, 제품의 유통 기한을 개선할 것입니다. 지속 가능성에 중점을 둔 Origin과 포장 기계 전문 지식을 가진 PackSys Global의 협력은 여러 산업에서 시급한 지속 가능성 문제를 해결하기 위한 것입니다.
Origin Materials et PackSys Global se sont associés pour créer le premier système de fabrication de bouchons et de fermetures en PET au monde. Ce système innovant vise à révolutionner l'industrie en produisant des bouchons et des fermetures en PET durables à l'échelle commerciale, en améliorant la circularité du recyclage, en permettant l'utilisation de conteneurs mono-matériel, des emballages plus légers et une meilleure durée de conservation des produits. Avec un accent sur la durabilité chez Origin et l'expertise de PackSys Global dans les machines d'emballage, cette collaboration vise à relever les défis urgents de durabilité dans divers secteurs.
Origin Materials und PackSys Global haben sich zusammengeschlossen, um das weltweit erste Fertigungssystem für PET-Verschlüsse und -Deckel zu entwickeln. Dieses innovative System soll die Branche revolutionieren, indem es nachhaltige PET-Verschlüsse und -Deckel in kommerziellem Maßstab herstellt, die Recyclingkreislauf verbessert, den Einsatz von Ein-Material-Behältern ermöglicht, leichtere Verpackungen bietet und die Haltbarkeit der Produkte verbessert. Mit dem Fokus von Origin auf Nachhaltigkeit und der Expertise von PackSys Global in Verpackungsmaschinen zielt diese Zusammenarbeit darauf ab, die dringenden Nachhaltigkeitsherausforderungen in verschiedenen Branchen anzugehen.
Positive
  • Origin Materials and PackSys Global are pioneering the development of the world's first PET cap and closure manufacturing system, introducing sustainable solutions to the packaging industry.

  • The innovative production system is designed to enhance recycling circularity, enable mono-material containers, promote lighter packaging, and improve product shelf life, aligning with Origin's mission to transition to sustainable materials.

  • The collaboration between Origin and PackSys Global showcases a commitment to sustainability, addressing challenges in various industries and offering transformative solutions for packaging design and performance.

Negative
  • None.

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. USA and RÜTI, 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 PackSys Global AG (“PackSys Global”), the leading packaging machine producer for plastic closure slitting machines, announced a strategic cooperation to produce the world’s first PET cap and closure manufacturing system.

Origin Materials PET cap (Photo: Business Wire)

Origin Materials PET cap (Photo: Business Wire)

“Our high-throughput production system is the first of its kind, designed to do something nothing else can: make PET caps and closures at commercial scale,” said Origin Co-CEO and Co-Founder John Bissell. “Our system will allow us to bring the recycling, sustainability, and performance benefits of our PET cap and closure solution to the world. We expect it will be the first of many such production lines for making not just beverage packaging better and fully recyclable, but containers of nearly every kind.”

Bissell added: “We are happy to be building our production line with high-quality sub-systems from PackSys Global, a respected leader in packaging machines for the cosmetics, beverage, pharmaceutical, and packaging industries with facilities in North America, Europe, and Asia that has operated for over fifty years. PackSys Global is ideally positioned to contribute technology to the unique way we make high-quality caps and closures for multiple industries.”

Ueli Kobel, Director of PackSys Global’s Slitting Division, noted: “PET closures can be a game changer for closure recycling. Most beverage closures are today made from HDPE and, while closure recycling rates are increasing, especially in Europe where closure tethering will be mandatory starting July 2024, a beverage container remains a two-material solution. HDPE suffers from degradation when re-used multiple times. Changing a closure to the same grade of PET as in the container avoids the need to separate the two materials and also solves the degradation topic at the same time.”

Origin’s high-throughput production system will make 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 PackSys Global, we are solving the most difficult sustainability challenges, in alignment with our core mission to help transition the world to sustainable materials.

Aitor Henao Soto, Head of Marketing & Communications at the Swiss company, stated, “We are proud to have partners like Origin who have entrusted us with their project, relying on our experience and expertise in engineering. The tests conducted at our technology center, KREALAB, were highly successful, and we are excited to showcase the results on May 9th at NPE2024 in Orlando in our booth alongside the Origin team.”

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 PackSys Global

PackSys Global AG manufactures high-performance machines and complete lines for the production of extruded tubes and laminate tubes as well as slitting and folding machines for plastic closures. The company is the specialist for high-precision automatic hot stamping solutions for the packaging, cosmetics and automotive industries and the undisputed world market leader for machines for packaging unfilled laminate, plastic and aluminium tubes, aluminium aerosol cans, bottles and cartridges. Visit www.packsysglobal.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, expected increase in production lines, use of Origin Materials’ caps and closures solution on non-beverage containers, geographic expansion, performance improvements, 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; 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.

Origin Materials

Investors: ir@originmaterials.com

Media: media@originmaterials.com



PackSys Global

Aitor Henao Soto, Head of Marketing & Communications

E-Mail: aitor.henao@packsysglobal.com

Source: Origin Materials

Origin Materials, Inc.

NASDAQ:ORGN

ORGN Rankings

ORGN Latest News

ORGN Stock Data

196.04M
145.75M
17.92%
17.93%
2.37%
Chemicals
Industrial Organic Chemicals
Link
United States of America
WEST SACRAMENTO