Origin Materials to Develop Low-Carbon Footprint Packaging for LVMH Beauty
April 19 2022 - 8:01AM
Dow Jones News
By Chris Wack
Origin Materials Inc. and LVMH Beauty, a division of LVMH Moet
Hennessy Louis Vuitton, said they entered into a strategic
partnership to develop sustainable low-carbon footprint packaging
for the perfumes-and-cosmetics industry.
As part of the partnership, LVMH has signed a multiyear capacity
reservation agreement with Origin Materials to purchase
sustainable, carbon-negative polyethylene terephthalate, or PET,
for use in packaging for perfumes and cosmetics, they said.
PET produced using Origin technology is functionally identical
to petroleum-based PET, but with a lower carbon footprint since it
is made from sustainable wood residues, which capture carbon.
Origin PET is equally recyclable to fossil-based PET within the
existing infrastructure, which creates a circular economy with a
significantly reduced carbon footprint, the company said.
Origin Materials shares were up 5% to $7 in premarket
trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 19, 2022 07:46 ET (11:46 GMT)
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