Origin Materials and Kuraray Announce Carbon Negative Materials Partnership – Yahoo Finance
Kuraray signed a multi-year capacity reservation agreement to purchase sustainable carbon negative materials from Origin Materials
WEST SACRAMENTO, Calif. & TOKYO, June 16, 2022–(BUSINESS WIRE)–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 Kuraray Co., Ltd (“Kuraray”), a leading manufacturer of specialty chemicals, fibers, and other materials, today announced a strategic partnership to commercialize advanced carbon negative materials for diverse polymer applications.
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As part of the strategic partnership, Kuraray signed a capacity reservation agreement with Origin Materials to purchase sustainable, carbon negative intermediate chemicals used in the large-scale synthesis of many polymers, including PTA, PET, and polyamide. The materials from Origin will enhance Kuraray’s mission to develop innovative solutions with unique products and cleaner technologies to improve the natural environment and enhance quality of life for people everywhere.
Origin’s patented technology platform, which turns the carbon found in sustainable wood residues into useful materials, can help revolutionize the production of a wide range of end products and supports industry’s transition to sustainable materials and lower GHG emissions.
“We are thrilled to partner with Kuraray, a leading global manufacturer with a deep commitment to the highest standards for performance and sustainability,” said Rich Riley, Co-CEO of Origin Materials. “Together we will bring to market carbon negative materials that will play a key role in reducing the climate impact of a wide array of specialty chemicals and materials. We look forward to supporting Kuraray’s sustainability journey during this ‘once in a planet’ transition.”
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.
Headquartered in Tokyo, Kuraray is a global specialty chemicals company and one of the largest suppliers of industrial polymers and synthetic microfibers for many sectors of industry. Kuraray was established in 1926 with the objective of commercializing rayon, and the Company’s business essentially developed around fibers and textiles. In 1950, the Company achieved a corporate milestone as the first in the world to bring polyvinyl alcohol synthetic fiber to market. In subsequent years, Kuraray expanded its operations in the chemicals-related business with its proprietary technology equivalent to global competitiveness. With a solid technical foundation, Kuraray’s unique product portfolio is widely represented in the chemical, …….