Origin Materials and Mitsubishi Gas Chemical Form Alliance to Industrialize Advanced Carbon-Negative Chemicals and Materials
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 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.”