Mitsui signed a multi-year capacity reservation
agreement to purchase sustainable carbon-negative materials from
Origin Materials
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, and Mitsui & Co., Ltd. (“Mitsui”), a global leader
in energy, machinery, chemicals, food, textile, logistics, finance,
and more, today announced a strategic partnership to industrialize
advanced carbon negative materials.
This strategic partnership aims to rapidly develop and
industrialize new sustainable carbon-negative products for the
automotive, chemicals, electronics, packaging, textiles,
construction, and personal care industries based on Origin
Materials’ patented technology platform. The partnership will
leverage Mitsui’s global supply chain strength, access to Japanese
and international markets, and leadership in business innovation.
As part of the partnership, Mitsui signed a multi-year capacity
reservation agreement to purchase sustainable carbon-negative
materials from Origin Materials.
“We are pleased to partner with Mitsui, a global leader in
multiple business areas, including chemicals, textiles, and many
others. We are strategically aligned and share a common vision for
the role that sustainable, cost-competitive, carbon-negative
materials can play in creating value worldwide,” said Rich Riley,
Co-CEO of Origin Materials. “This partnership reflects our shared
commitment to driving sustainable growth, while reducing greenhouse
gas emissions. Additionally, the partnership represents further
progress in Origin’s mission to enable the world’s transition to
sustainable materials.”
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. For over a decade, 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.
About Mitsui & Co, Ltd. Mitsui & Co., Ltd. (8031:
JP) is a global trading and investment company with a diversified
business portfolio that spans approximately 63 countries in Asia,
Europe, North, Central & South America, the Middle East, Africa
and Oceania. Mitsui has over 5,600 employees and deploys talent
around the globe to identify, develop, and grow businesses in
collaboration with a global network of trusted partners. Mitsui has
built a strong and diverse core business portfolio covering the
Mineral and Metal Resources, Energy, Machinery and Infrastructure,
and Chemicals industries. Leveraging its strengths, Mitsui has
further diversified beyond its core profit pillars to create
multifaceted value in new areas, including innovative Energy
Solutions, Healthcare & Nutrition and through a strategic focus
on high-growth Asian markets. This strategy aims to derive growth
opportunities by harnessing some of the world’s main mega-trends:
sustainability, health & wellness, digitalization and the
growing power of the consumer.
For more information on Mitsui & Co’s businesses, visit
www.mitsui.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; changes in customer demand; and
those factors discussed in the Quarterly Report on Form 10-Q filed
with the SEC on November 12, 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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