WEST SACRAMENTO, CA and INDIANAPOLIS–(BUSINESS WIRE)–July 27, 2022–
original materialsInc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the world leader in carbon negative materials, and ATC Plastics LLC (“ATC Plastics”), one of the world’s leading manufacturers of in black color, today announced a strategic partnership to bring sustainable carbon negative carbon black made using Origin Materials’ patented technology platform to the plastics industry.
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As part of this partnership, ATC Plastics has agreed to purchase Origin’s sustainable carbon black. Origin’s Carbon Black, made from Origin’s HTC, is a versatile 100% bio-content filler and pigment. Like traditional petroleum-based carbon black, it can be used in a wide range of applications including belts and hoses, mechanical rubber products, tires, plastic masterbatches and toners.
The partnership will target applications such as plastic masterbatch, an additive used to color plastic, for corrugated pipe and plastic manufacturing processes such as blow molding, injection molding, pipe extrusion, compounding, plastic films and sheets and rotational molding. The agreement between Origin and ATC Plastics includes the co-development of carbon black for plastic corrugated pipe, plastic extrusion and molding applications.
Origin’s carbon black is produced from sustainable wood residues rather than petroleum, which reduces carbon emissions and consumption of fossil resources and enables the production of carbon negative products.
The global market for carbon black is expected to reach $26 billion by 2025, expanding at a CAGR of 6%, according to Grand View Research, Inc. Plastics is expected to be the fastest growing application for black of carbon from 2019 to 2025 resulting from its use. in the production of high-performance products.
“We are thrilled to partner with ATC Plastics, a trusted partner and distributor of global brands with a strong track record of manufacturing excellence,” said Rich Riley, co-CEO of Origin Materials. “ATC Plastics’ manufacturing capabilities and extensive customer network can enable broad adoption of Origin’s patented technology platform and help drive the ‘once on a planet’ shift to sustainable materials, including renewable carbon black in the plastic compounding industry.
“ATC Plastics is excited to work closely with Origin Materials in developing a sustainable and renewable carbon black option,” said Tom Stevning, Managing Partner at ATC Plastics LLC. “The industry is ready for something like this and it comes at an opportune time when the supply of carbon black is very limited.”
About original materials
Based in West Sacramento, Origin Materials is the global leader in carbon negative materials. Origin’s mission is to enable the global transition to sustainable materials. For more than a decade, Origin has developed a platform to turn the carbon in cheap, abundant, non-food biomass, like 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 apparel, textiles, plastics, packaging, auto parts, tires, carpets, toys, etc., with an addressable market of approximately $1 trillion. In addition, Origin’s technology platform is expected to provide stable prices largely decoupled from the oil supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented core technology, economy and carbon impact are supported by a growing list of major global customers and investors.
For more information, visit www.originmaterials.com.
About ATC Plastics
ATC Plastics is a major producer of black color concentrate for use in many plastic applications. With a very large plant operating multiple lines and over fifty silos located in Houston, Texas, ATC Plastics is able to supply products globally to a variety of markets.
Caution Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, ” should”, “should”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospect” and similar expressions which predict or indicate future events or trends or which are not 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, our ability to develop additional high-value products beyond our core CMF platform, and our 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 the current expectations of Origin Materials’ management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to be relied upon and should not be relied upon as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many real 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 not be able to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts on Origin Materials’ business due to the COVID-19 pandemic and other global health or economic crises; changes in customer demand; and the factors discussed in the Quarterly Report on Form 10-Q filed with the SEC on May 9, 2022 under the heading “Risk Factors” and other documents that Origin Materials has filed or will file with the SEC. If one of these risks materializes, or if 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 is not currently aware of, or that Origin Materials currently believes are not material, that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials’ expectations, plans or forecasts regarding future events and its 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 choose to update these forward-looking statements at some time in the future, Origin Materials expressly disclaims any obligation to do so. These forward-looking statements should not be construed as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.
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CONTACT: Original Materials
KEYWORD: UNITED STATES NORTH AMERICA INDIANA CALIFORNIA TEXAS
KEYWORD INDUSTRY: CHEMICALS/PLASTICS AUTOMOTIVE MANUFACTURING ENVIRONMENT MANUFACTURING GREEN TECHNOLOGY OTHER TEXTILE MANUFACTURING
SOURCE: Original Materials, Inc.
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PUBLISHED: 07/27/2022 07:00 / DISK: 07/27/2022 07:02