Origin Materials and Minafin Group Form Strategic Partnership to Industrialize Carbon-Negative Chemicals and Materials – Yahoo Finance
The Green Chemistry Division of Minafin and Origin are entering into a strategic partnership to industrialize specialty chemicals based on Origin’s carbon-negative materials.
WEST SACRAMENTO, Calif., February 07, 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 the Green Chemistry Division of the Minafin Group (“Minafin”), a global specialty chemical company, are entering into a strategic partnership to industrialize high-value specialty materials based on Origin’s carbon-negative materials.
The partnership includes multiple collaboration areas and is an important milestone for bringing cost-competitive biobased products to the market, with applications in the pharmaceutical, agricultural, cosmetics and personal care, and automotive industries. As part of the partnership, Minafin affiliate Pennakem aims to develop new technologies with Origin to further expand the market for Pennakem’s biobased products. Through this partnership, Origin aims to develop and industrialize additional high-value products based on its core technology platform, leveraging the proprietary technologies, manufacturing know-how and customer relationships of Minafin.
In addition, Minafin business unit EcoXtract® is in discussions with Origin to commercialize its revolutionary biobased extraction process using sustainable carbon-negative materials produced by Origin. The EcoXtract® process efficiently extracts useful plant oils for food, cosmetics, and other applications.
“Partnering with the Green Chemistry Division of Minafin is a significant milestone in our mission to transition the world to sustainable materials,” said Origin Materials Co-CEO Rich Riley. “The opportunity for working together is remarkably broad, and we are excited to collaboratively develop high-value products. Minafin brings technologies and know-how to the table that will further enable us to deliver value across a broad spectrum of specialty chemicals end markets.”
“This partnership with Origin Materials will play a significant role in realizing further potential for our products and technologies across the globe and attests to the new structure within Minafin Group,” added Gust Desmedt, CEO of the Green Chemistry Division of Minafin. “This partnership will enable our customers to accelerate their switch to our innovative biobased alternatives through improved competitiveness and supply reliability.”
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 Pennakem, LLC
Pennakem, an affiliate of the Belgian Minafin Group, is an innovative specialty chemical company with over 60 years of biobased chemicals development and manufacturing experience. Pennakem is the largest worldwide supplier of specialty furfural-derived biobased products, with demonstrated value in pharmaceutical, agricultural, …….