Origin Materials Inc Stock Price, News & Analysis

Origin Materials announced the mechanical completion of its first commercial plant, Origin 1, in Sarnia, Ontario. This milestone aligns with their timeline for commissioning, expected to support start-up by late Q1 2023. The plant will produce sustainable materials to meet over $9 billion in total customer demand for carbon-negative products. The company aims to decarbonize materials by converting biomass into useful products like chloromethylfurfural. Following start-up, Origin plans to provide guidance on revenue and EBITDA for full-year 2023 during its next earnings call.

The Louisiana State Bond Commission has approved the issuance of up to $1.5 billion in tax-exempt bonds to finance the construction of Origin 2, Origin Materials' first large-scale manufacturing facility in Geismar, Louisiana. This project aims to produce carbon-negative materials from solid waste, reinforcing Origin's commitment to sustainability. Construction is expected to create approximately 500 direct jobs and up to 1,000 indirect jobs. The facility's anticipated operational date is mid-2025, with an estimated cost of $1.1 billion.

Origin Materials, the leading carbon negative materials company, announced participation by Co-Founder and Co-CEO John Bissell in the 25th Annual Needham Growth Conference in New York from January 10-12, 2023. Mr. Bissell will present virtually on January 12 at 11:00 AM EST and will meet with institutional investors to discuss the company's sustainable material initiatives. Origin aims to transition to sustainable materials utilizing its patented technology for biomass conversion, targeting a market worth approximately $1 trillion.

Origin Materials has provided an update on its first commercial manufacturing plant, Origin 1, located in Sarnia, Ontario. The plant's mechanical completion is now anticipated in January 2023, slightly delayed due to severe weather. Commissioning is underway and expected to be completed by the end of Q1 2023, with operations starting soon after. Origin 1 will produce sustainable materials from wood residues, with an estimated capacity of processing 25,000 dry metric tons of biomass annually.

Origin Materials, a leader in carbon negative materials, announced its participation in the Credit Suisse Climate Tech Conference on December 6-7, 2022. Co-CEOs John Bissell and Rich Riley will meet with institutional investors on December 7. The company is focused on enabling the transition to sustainable materials through innovative technology that processes non-food biomass into valuable products. With an addressable market of approximately $1 trillion, Origin aims to stabilize supply chains and pricing away from petroleum influences.

Emerson (NYSE: EMR) has signed a memorandum of understanding with Origin Materials (NASDAQ: ORGN) to provide advanced automation technologies for Origin's upcoming manufacturing facility, Origin 2, in Geismar, Louisiana. This facility aims to convert 1 million dry metric tons of wood residues annually into carbon-negative materials. Origin's innovative platform targets a market exceeding $1 trillion, focusing on sustainable products like PET plastics.

Expected to be operational by 2025, the Plantweb digital ecosystem will enhance production efficiency and support the transition to low-carbon manufacturing.

Origin Materials (Nasdaq: ORGN, ORGNW) reported third-quarter 2022 results, maintaining a strong cash position of $362.2 million. The company is on track for mechanical completion of Origin 1 by year-end 2022, with a capital budget of $125 million to $130 million. Total contracted offtake agreements and capacity reservations have surged to $9.0 billion, up from $8.1 billion in August 2022. However, net income fell to $8.3 million, down from $27.9 million in the prior year, and adjusted EBITDA loss increased to $8.4 million.

Origin Materials, Inc. (NASDAQ: ORGN, ORGNW) will announce its Q3 2022 results on November 3, 2022, after market close, followed by a conference call at 5:00 p.m. ET. Interested parties can access the call via webcast on their investor relations site or by phone. The company invites shareholders to submit questions for the Q&A session using #askorigin. Origin Materials focuses on sustainable materials through its patented technology, aiming to address a market worth approximately $1 trillion and ensuring stable pricing independent of volatile petroleum supply chains.

Origin Materials (NASDAQ: ORGN, ORGNW), a carbon negative materials company, announced that Co-Founder and Co-CEO John Bissell will participate in the Advanced Bioeconomy Leadership Conference (ABLC NEXT 2022) in San Francisco. He is scheduled to speak at the "Hot Projects Summit" on October 27th at 4:30 PM PT. The conference addresses key issues in the circular bioeconomy, focusing on renewable chemicals and materials. More information about the conference can be found here.