Sustainable automotive supply chain initiative
is focused on industrializing new materials to drive
decarbonization in the automotive industry
Origin Materials will leverage its patented
disruptive technology platform, which turns sustainable wood
residues into cost-advantaged, carbon-negative materials that
reduce the need for fossil resources
Ford and Origin Materials will pursue
applications including carbon-negative PET and sustainable pigments
and fillers for various applications in SUVs, trucks, electric
vehicles and more
Origin Materials (“Origin Materials” or “Origin”), the world’s
leading carbon negative materials company, today announced the
launch of its Net Zero Automotive Program with Ford Motor Company
(NYSE: F).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210610005051/en/
Origin’s Net Zero Automotive Program is a sustainable automotive
supply chain initiative focused on industrializing new materials to
drive decarbonization in the automotive industry. Origin believes
the newly developed and industrialized materials, derived from
sustainable wood residues, will be in high demand from the
automotive industry as it undertakes a massive global effort to
decarbonize its supply chains in search of the “zero carbon” car.1
The program will aim to provide the automotive industry with
drop-in ready materials solutions to enable this transition.
To launch the program, Origin Materials and Ford will pursue
drop-in applications for carbon negative PET plastic (polyethylene
terephthalate) produced from sustainable wood residues with Origin
technology. PET plastic helps make cars lighter, more fuel
efficient, and often comprise a large percentage of a vehicle’s
mass. The use of carbon-negative PET is expected to further reduce
emissions and the need for fossil resources. In addition, the
companies will collaborate to develop sustainable pigments and
fillers for automotive applications for SUVs, trucks, electric
vehicles, and more. The products will be developed using carbon
negative materials produced with the Origin Materials technology
platform, with applications throughout the interior and exterior of
the vehicle, including bumpers, paint pigment, door panels, tire
filler, underbonnet foam sheet, black plastic, head rests, seat
cushions, and arm rests.
“Origin’s Net Zero Automotive Program is an exciting initiative
that we expect to drive innovation, sustainability and
decarbonization throughout the automotive supply chain,” said Rich
Riley, Co-Chief Executive Officer of Origin Materials. “Ford is the
perfect partner to launch the program with and we look forward to
working with their teams to bring new sustainable products to
market that will play a key role in helping them achieve their
decarbonization and sustainability goals.”
"Ford's path to carbon neutrality evaluates every part of our
operations, including the emissions associated with synthesizing
the vast amount of materials we use within our vehicles," said
Debbie Mielewski, Technical Fellow at the Ford Motor Company. "The
ability to utilize carbon negative materials will be a monumental
driver in helping achieve our sustainability goals and supports a
more proactive vision for the entire industry."
Origin Materials’ patented technology platform, which turns
inexpensive, plentiful, and sustainable wood residues into
carbon-negative materials, can help to 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 Materials’ 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.
About Origin Materials Headquartered in West Sacramento,
Origin Materials is the world's leading carbon negative materials
company. Origin Materials’ mission is to enable the world’s
transition to sustainable materials. Over the past 10 years, Origin
Materials has developed a platform for turning the carbon found in
non-food biomass into useful materials, while capturing carbon in
the process. Origin Materials’ patented drop-in core technology,
economics and carbon impact are supported by a growing list of
major global customers and investors. Origin Materials’ first
commercial plant is expected to be operational in 2022 with a
second commercial plant expected to be operational by 2025 and
plans for additional expansion over the next decade.
On February 17, 2021, Origin Materials and Artius Acquisition
Inc. (“Artius”) (Nasdaq: AACQU, AACQ, AACQW), a publicly-traded
special purpose acquisition company, announced a definitive
agreement for a business combination that is expected to result in
Origin Materials becoming a public company. Upon closing of the
transaction, expected in the second quarter of 2021, the combined
company will be named Origin Materials and remain listed on the
Nasdaq under the new ticker symbol “ORGN.” The transaction,
together with anticipated financing and grants, is expected to
fully fund Origin Materials until EBITDA positive, and allow Origin
Materials to scale and commence commercial production to begin to
meet signed customer offtake and capacity reservations of $1.9
billion across a diverse range of industries.
For more information, visit www.originmaterials.com.
Important Information for Investors and Shareholders In
connection with the proposed business combination transaction,
Artius filed an amended registration statement on Form S-4 (the
“Registration Statement”) with the SEC on May 3, 2021, which
includes a proxy statement to be distributed to holders of Artius’s
ordinary shares in connection with Artius’s solicitation of proxies
for the vote by Artius’s shareholders with respect to the proposed
transaction and other matters as described in the Registration
Statement, as well as the prospectus relating to the offer of
securities to be issued to Artius’s shareholders and Origin
Materials’ stockholders in connection with the proposed
transaction. The Registration Statement was declared effective on
May 27, 2021, and the definitive proxy statement/prospectus and
other proxy materials were mailed on or about June 1, 2021 to
Artius’s shareholders of record as of May 19, 2021. Investors
and security holders and other interested parties are urged to read
the definitive proxy statement/prospectus, any amendments thereto
and any other documents filed with the SEC carefully and in their
entirety when they become available because they will contain
important information about Artius, Origin Materials and the
proposed transaction. The documents relating to the proposed
transaction can be obtained free of charge from the SEC’s website
at www.sec.gov. Free copies of these documents may also be obtained
from Artius by directing a request to: Artius Management LLC, 3
Columbus Circle, Suite 2215, New York, New York 10019.
Cautionary Note on Forward-Looking Statements This press
release contains certain forward-looking statements within the
meaning of the federal securities laws, including with respect to
the proposed transaction between Origin Materials and Artius.
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, product
development plans and projected financial information. 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 and
Artius. 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 Materials;
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; Origin Materials and Artius may
be unable to successfully or timely consummate the proposed
business combination, including the risk that any regulatory
approvals may not obtained, may be delayed or may be subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the business combination, or
that the approval of the shareholders of Artius or stockholders of
Origin Materials may not be obtained; failure to realize the
anticipated benefits of the business combination; the amount of
redemption requests made by Artius’s shareholders, and those
factors discussed in the Registration Statement under the heading
“Risk Factors,” and other documents Artius 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 Artius and Origin Materials presently do not
know, or that Artius and Origin Materials currently believe are
immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Artius’s and Origin Materials’
expectations, plans, or forecasts of future events and views as of
the date of this press release. Artius and Origin Materials
anticipate that subsequent events and developments will cause its
assessments to change. However, while Artius and Origin Materials
may elect to update these forward-looking statements at some point
in the future, Artius and Origin Materials specifically disclaim
any obligation to do so. These forward-looking statements should
not be relied upon as representing Artius’s and 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.
Participants in the Solicitation Artius, Origin Materials
and their respective directors, executive officers and employees
and other persons may be deemed to be participants in the
solicitation of proxies from Artius’s shareholders in connection
with the proposed business combination. Information about Artius’s
directors and executive officers and their ownership of Artius’s
securities is set forth in the Registration Statement described
above. Additional information regarding the interests of those
persons who may be deemed participants in the solicitation of
proxies in connection with the proposed transaction is set forth in
the definitive proxy statement/prospectus.
Non-Solicitation This communication is not a proxy
statement or solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the potential
transaction and shall not constitute an offer to sell or a
solicitation of an offer to buy the securities of Artius, the
combined company or Origin Materials, nor shall there be any sale
of any such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act of
1933, as amended.
1 “The zero-carbon car: Abating material emissions is next on
the agenda,” McKinsey & Company, September 18, 2020.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210610005051/en/
Origin Materials Investors: ir@originmaterials.com
Media: media@originmaterials.com
Artius Investors: Jason Ozone jason@artiuscapital.com
+1-212-309-7668
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