World leader in carbon negative materials grows
customer demand from signed offtake agreements and capacity
reservations by 90% to $1.9 billion
Seasoned veterans from The Clorox Company and
Procter & Gamble will join Board of Directors at closing
A replay of management’s prepared remarks at
the Analyst Day will be available on the Company’s investor
relations page on Tuesday, April 20, 2021
Origin Materials, Inc. (“Origin Materials”), the world’s leading
carbon negative materials company, provided the following business
update ahead of its Analyst Day, taking place today at 11:00 AM ET.
A replay of management’s prepared remarks at the Analyst Day will
be available Tuesday, April 20, 2021 on the Company’s investor
relations page: https://www.originmaterials.com/investors.
New and Expanded Customer Partnerships
Since announcing a definitive agreement for a business
combination on February 17, 2021 with Artius Acquisition Inc.
(“Artius”) (Nasdaq: AACQU, AACQ) that will result in Origin
Materials becoming a public company, the Company increased its
customer demand from offtake agreements (including customer
options) and capacity reservations by 90% to $1.9 billion from the
$1 billion previously disclosed and has expanded its strategic
customer partnerships, including:
- April 19, 2021: Strategic alliance with PrimaLoft to develop
carbon negative insulating fiber for outdoor gear, bedding and
apparel.
- April 19, 2021: Partnership with Solvay to develop advanced
carbon negative materials for the automotive industry.
- April 12, 2021: Partnership with Packaging Matters to advance
carbon negative packaging solutions, building on existing 10-year
supply agreement.
- April 6, 2021: Partnership with AECI Much Asphalt to develop
low-carbon asphalt.
- April 5, 2021: Partnership with AEC Sans Technical Fiber to
develop carbon negative materials for apparel and automotive
applications.
Additions to Board of Directors
Origin Materials is also pleased to announce the addition of two
seasoned veterans to the Board of Directors of the combined company
who will join upon completion of the business combination.
Benno O. Dorer – From November 2014 until September 2020,
Mr. Dorer served as Chief Executive Officer of the Clorox Company
and as Chairman of the Clorox Company from August 2016 until
February 2021. Prior to his time at the Clorox Company, Mr. Dorer
held various marketing and sales roles at The Procter & Gamble
Company in Europe and the United States. Mr. Dorer had also
previously served the Consumer Brands Association, the trade
association for the consumer packaged goods industry, as Board
Director and Vice Chairman until 2020. Mr. Dorer is currently a
Senior Advisor to KKR & Co. Inc. and a Board Director of VF
Corporation and Wella Company. Mr. Dorer has been selected to serve
on the Board of Directors of Origin Materials due to his extensive
experience in the consumer and professional products industry.
Kathleen B. Fish – From February 2014 until December
2020, Ms. Fish served as Chief Research, Development and Innovation
Officer of Procter & Gamble. Prior to this, Ms. Fish served as
Vice President of the Global Fabric Care R&D organization at
Procter & Gamble from January 2009 to January 2014, and as Vice
President of the Global Baby Care R&D organization at Procter
& Gamble from November 2003 to November 2008. Ms. Fish joined
Procter & Gamble in 1979 as part of its Product Development
(R&D) organization. Ms. Fish is currently a member of the USA
Swimming Board of Directors. Ms. Fish has been selected to serve on
the Board of Directors of Origin Materials due to her leadership
experience in the consumer goods industry.
Management Commentary
“Since announcing our business combination with Artius, we have
made significant progress in advancing our mission to enable the
world’s transition to sustainable materials,” said Rich Riley,
Co-CEO of Origin Materials. “Our new and expanded strategic
customer partnerships further strengthen our carbon negative
technology platform. We have added key technical talent to our team
with expertise in industrial chemical engineering, petrochemicals,
solids processing, refining and renewable energy. And we will
bolster our Board of Directors with industry leaders that bring a
proven track record in driving growth and innovation at world class
CPG companies. With our breakthrough technology, blue chip customer
base and deep bench of talent, we are uniquely positioned to
disrupt and decarbonize the materials industry supply chain, grow
our business globally and deliver long-term shareholder value.”
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.
For more information, visit www.originmaterials.com.
About Artius Acquisition Inc.
Artius is a special purpose acquisition company formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. Artius was co-founded by Charles Drucker,
the former CEO of WorldPay, Inc., a leading payments company, and
its predecessor company, Vantiv. Inc., and Boon Sim, the Founder
and Managing Partner of Artius Capital Partners LLC.
For more information, visit
https://www.artiuscapital.com/acquisition.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210419005261/en/
Origin Investors: ir@originmaterials.com
Media: media@originmaterials.com
Artius Investors: Jason Ozone jason@artiuscapital.com
+1-212-309-7668
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