Origin Materials Provides Business Update Ahead of Analyst Day
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.