- Origin Materials and Mitsubishi Gas Chemical have signed an
agreement for Origin Materials to sell Mitsubishi Gas Chemical
carbon-negative materials to be used in a wide array of end
products.
- In addition, the companies have signed a joint development
agreement and started work to create new, functionally advantaged
carbon-negative chemicals and derivatives, including high-value
specialty chemicals.
- The partnership aims to industrialize new chemistries important
to the decarbonizing economy, leveraging Mitsubishi Gas Chemicals’
expertise and capabilities across global supply chains; Mitsubishi
Gas Chemical as an important strategic partner for Origin Materials
for accessing end markets in the automotive, medical, food,
information and communication, energy, and infrastructure
sectors.
- The partnership leverages Origin Materials’ patented technology
platform, which turns sustainable wood residues 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 Mitsubishi Gas Chemical,
Inc., a global leader in basic and fine chemicals and advanced
materials, today announced a partnership to industrialize and
manufacture advanced chemicals and materials built on the Origin
Materials technology platform.
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the full release here:
https://www.businesswire.com/news/home/20210427005077/en/
The partnership includes an agreement for Origin Materials to
sell Mitsubishi Gas Chemical carbon-negative materials and a joint
development agreement for the companies to create new, functionally
advantaged chemicals and derivatives, including high-value
specialty chemicals.
The partnership aims to rapidly develop and industrialize new
products based on Origin Materials’ technology platform, leveraging
the leadership position of Mitsubishi Gas Chemical as a provider of
expertise and resources across global supply chains; Mitsubishi Gas
Chemical as an important strategic partner for Origin Materials for
accessing end markets in the automotive, medical, food, information
and communication, energy, and infrastructure sectors.
The companies believe the market for carbon-negative chemicals
and advanced materials will grow significantly in response to
rising global demand for low-carbon products and services. The
companies aim to explore not only new technologies, but new
industrial supply chain relationships that are expected to support
technology commercialization and enable downstream products across
a variety of industries and applications, including functionally
advantaged chemicals and materials.
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 sustainable wood residues.
Origin Materials Commentary:
“Origin Materials’ goal is to provide carbon-negative material
solutions in a world fast-transitioning to net zero, and so we are
delighted to partner with Mitsubishi Gas Chemical, a global
leader,” says Origin Materials co-CEO Rich Riley. “Together, we aim
to revolutionize entire industries. This is a groundbreaking
partnership that we believe will change how countless materials and
products are made, with far-reaching impact supporting the world’s
ambition to reach net zero emissions.”
Mitsubishi Gas Chemicals Commentary:
“Consistent with its objective to realize and develop a more
sustainable society through its business activities, Mitsubishi Gas
Chemical has a long record of developing environmentally friendly
technologies, including geothermal power generation that emits less
carbon dioxide and the production of dimethyl ether as a clean
fuel. Partnering with Origin Materials takes Mitsubishi Gas
Chemical further toward the development of low-carbon emission
technologies and carbon neutralization.”
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 Mitsubishi Gas Chemical
Mitsubishi Gas Chemical Company, Inc. (MGC), headquartered in
Tokyo, is a unique technology-oriented manufacturer producing more
than 90% of its products using proprietary technologies. Committing
itself to creating new technology and value, MGC boasts a broad
range of products, from basic chemicals such as methanol, xylene,
and hydrogen peroxide to high-performance products such as
engineering plastics, foamed plastics, materials for printed wiring
boards and oxygen absorbers. MGC will continue to societal growth
and harmony by creating a wide range of value through chemistry.
For more information, please visit MGC’s website:
https://www.mgc.co.jp/eng/
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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Investors: ir@originmaterials.com
Media: media@originmaterials.com
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