- PrimaLoft and Origin Materials have launched a strategic
alliance to develop high-performance, carbon-negative insulating
fibers for diverse apparel applications, including for leading
outdoor, fashion, and lifestyle brands, as well as home goods
applications such as hypoallergenic insulated bedding.
- PrimaLoft, an advanced material technology company and a world
leader in the development of high-performance insulations and
fabrics, has signed a capacity reservation agreement and will
develop the fibers with Origin Materials to address demand for
sustainable, high-performance materials from its over 900 global
brand partners. PrimaLoft iconic brand partners include Patagonia,
Stone Island, L.L. Bean, Lululemon, adidas and Nike.
- The alliance will focus on carbon-negative PET and
next-generation polymers produced by the Origin Materials patented
technology platform, which turns sustainable wood residue into
cost-advantaged, carbon-negative materials that reduce the need for
fossil resources.
Origin Materials, Inc. (“Origin Materials”), the world’s leading
carbon negative materials company, and PrimaLoft, an advanced
material technology company and a world leader in the development
of high-performance insulations and fabrics, today announced a
strategic alliance to develop carbon-negative, insulating,
high-performance fibers. The fibers will be used across a diverse
array of end products, including insulating fiber for leading
outdoor, fashion, and lifestyle brands, as well as home goods
applications such as hypoallergenic insulated bedding.
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the full release here:
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PrimaLoft has signed a capacity reservation agreement with
Origin Materials and the companies will work to rapidly develop and
commercialize new products derived from Origin Materials’ platform.
The collaboration will leverage the leadership position of
PrimaLoft as a specialty producer of insulating fibers and
filaments with over 900 global brand partners, including iconic
brands like Patagonia, Stone Island, L.L. Bean, Lululemon, adidas
and Nike, as well as a large global network of manufacturers that
employ a wide array of textile processes to make its products,
including extrusion, carding, spinning, finishing, weaving,
knitting, dyeing, airlaid, meltblown, and other technologies.
With its brand building team, PR team, global sales
organization, and brand partners, as well as its working
relationships with the six largest global premium fiber
manufacturers, PrimaLoft is well-positioned to partner with Origin
Materials to provide the textile industry with novel
carbon-negative material solutions. The collaboration will focus on
developing fibers from carbon-negative PET and next-generation
polymers produced with Origin Materials’ patented technology
platform.
The collaboration builds on PrimaLoft’s “Relentlessly
Responsible™” mission to elevate both performance and
sustainability, through innovation. The platform includes
PrimaLoft® Bio™, which was developed and launched into the market
in late 2018 as an effort to battle microplastics in the ocean;
PrimaLoft® P.U.R.E.™, which provides materials manufactured with
greater than 50% CO2 savings; and PrimaLoft’s post-consumer
recycling initiative. The next frontier for the company is
non-petroleum based raw materials, including products that
biodegrade and other circular economy solutions.
Origin Materials believes its technology platform, which turns
inexpensive, sustainable wood residues into carbon-negative
materials, will 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 Materials’ technology platform is expected
to provide stable pricing largely de-coupled from the petroleum
supply chain, which is exposed to more volatility than supply
chains based on wood.
“We are thrilled to partner with PrimaLoft, a leader in
sustainability and advanced, engineered insulating products for
apparel, outdoor gear, and home goods. We have a shared vision for
how materials can help the world transition to net zero carbon as
soon as possible,” said Origin Materials co-CEO Rich Riley.
“Together, we can develop innovative solutions that will bring
tremendous value to PrimaLoft’s customers and result in a
significant reduction of carbon emissions in the apparel, outdoor,
and home goods sectors.”
“Partnering with Origin Materials, a company on the cutting edge
of carbon negative materials, is a significant step in our
Relentlessly Responsible mission,” said PrimaLoft president and CEO
Mike Joyce. “Developing products that perform at the highest level
while making the least impact on the environment is our ultimate
goal. Working with Origin Materials to achieve those
high-performance standards through non-petroleum based means is a
huge stride forward. We’re excited to work together to bring new
technologies to a variety of industries.”
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), a publicly-traded special
purpose acquisition company, announced a definitive agreement for a
business combination that will 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, are expected to fully fund Origin Materials until
EBITDA positive, and allow Origin Materials to scale and commence
commercial production 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.
About PrimaLoft, Inc.
PrimaLoft, Inc., an advanced material technology company based
in Latham, New York, with offices in Xiamen, China, is the world
leader in research and innovative development of comfort solutions
with high performance insulations and fabrics. The PrimaLoft®
brand, a registered trademark of PrimaLoft, Inc., delivers
feel-good products that are used by more than 900 top global brands
in outdoor apparel, fashion, home furnishings, work wear, hunting
and military applications. With its Relentlessly Responsible™
mission, PrimaLoft strives to balance innovation, performance &
sustainability in pursuit of a better future. PrimaLoft® insulation
was originally developed for the U.S. army as a water-resistant,
synthetic alternative to down. Today, the brand is recognized as a
benchmark for providing unsurpassed comfort in any condition, while
lessening its impact on the environment. PrimaLoft, Inc. is active
in sustainable textile production through partnerships with the
bluesign® system, the International OEKO-TEX® Association, the
Sustainable Apparel Coalition’s Higg Index and the Global Recycled
Standard. For more information, please visit
http://www.primaloft.com, and follow PrimaLoft on Facebook, Twitter
and Instagram. PrimaLoft®, Feel the Performance™.
Important Information for Investors and Shareholders
In connection with the proposed business combination
transaction, Artius filed a registration statement on Form S-4 (the
“Registration Statement”) with the SEC on March 9, 2021, which
includes a preliminary proxy statement to be distributed to holders
of Artius’ ordinary shares in connection with Artius’ solicitation
of proxies for the vote by Artius’ 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’ shareholders and Origin
Materials’ stockholders in connection with the proposed
transaction. After the Registration Statement has been declared
effective, Artius will mail a definitive proxy statement, when
available, to its shareholders. Investors and security holders
and other interested parties are urged to read the 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
(when they are available) can be obtained free of charge from the
SEC’s website at www.sec.gov. Free
copies of these documents, once available, 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 stockholders of Artius or Origin Materials
may not be obtained; failure to realize the anticipated benefits of
the business combination; the amount of redemption requests made by
Artius’ stockholders, 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
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.
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’
shareholders in connection with the proposed business combination.
Information about Artius’ directors and executive officers and
their ownership of Artius’ securities is set forth in the
Registration Statement described above. Additional information
regarding the interests of those persons and other persons who may
be deemed participants in the proposed transaction may be obtained
by reading other documents Artius has filed, or will file, with the
SEC regarding the proposed business combination, including the
definitive proxy statement when it becomes available.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210419005285/en/
Investors: ir@originmaterials.com
Media: media@originmaterials.com
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