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 Kolon Industries, Inc. (“Kolon,” “Kolon Industries”), a global leader in chemicals and materials, today announced a strategic partnership to industrialize novel polymers and drop-in solutions for select applications, with an initial focus on automotive applications.
This strategic partnership aims to rapidly develop and industrialize new sustainable carbon-negative products based on Origin Materials’ patented technology platform, leveraging Kolon’s polymerization expertise, application development and supply chain strength. As part of the partnership, Kolon signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin Materials.
The partnership includes co-development aimed at commercializing polyethylene furanoate (“PEF”), a polymer with an attractive combination of performance characteristics for packaging and other applications, including enhanced barrier properties when compared with polyethylene terephthalate (“PET”), degradability, and other qualities. Origin Materials’ technology platform is expected to produce cost-competitive, sustainable, carbon-negative furandicarboxylic acid (“FDCA”), the primary precursor to PEF. Kolon Industries’ deep polymer expertise in novel FDCA-based polymers, including PEF, is expected to introduce world-class carbon-negative polymers and chemistries.
Origin Materials and Kolon believe that Origin’s platform, together with Kolon’s demonstrated expertise in polymer chemistry, manufacturing and application development, can accelerate the deployment of environmentally sustainable products and create profitable, competitively advantaged business opportunities for both companies.
“Origin is a pioneer and a global leader in carbon negative chemical technology, and Kolon Industries is a world leader in chemicals and polymers,” said Sung Han, Chief Technology Officer of Kolon Group. “Therefore, the collaboration between these two companies will ensure both carbon-negative and cost-effective Sustainable Polymer Economy, which will further enable the realization of the Circular Economy.”
“Kolon is a highly innovative company and a world leader in polymer development,” said John Bissell, Co-CEO of Origin Materials. “We are thrilled to work together to enable our shared vision for a net zero material economy. This partnership reflects both companies’ commitment to sustainable innovation.”
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. Over the past 10 years, 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.
About Kolon Industries, Inc.
Kolon Industries, headquartered in Seoul, Korea, and founded in 1957, is an innovative chemical and material company. Kolon Industries’ vision is Lifestyle Innovator, enriching people’s lifestyle through chemicals and materials that improve and sustain our planet. Kolon Industries has over 60 years of experience in polyester polymerization and its application technology including fiber, film and others. Kolon Industries’ deep experience and proven success in cutting-edge polymer commercialization is expected to secure novel bio-based polymers.