Origin Materials Inc Stock Price, News & Analysis

Origin Materials, the leader in carbon negative materials, announced significant milestones, including the mechanical completion of its first commercial plant, Origin 1, with commissioning expected in Q2 2023. The Louisiana State Bond Commission approved financing of up to $1.5 billion for the construction of Origin 2. Origin also formed a strategic partnership with Avantium to mass-produce sustainable FDCA and PEF. The company projects revenue for 2023 between $40 million and $60 million, with an adjusted EBITDA loss expected between $50 million and $60 million.

Origin Materials (NASDAQ: ORGN, ORGNW) has partnered with Avantium N.V. to accelerate the production of FDCA and PEF from sustainable wood residues. This collaboration leverages Origin's carbon-negative technology and Avantium's YXY® technology to create cost-competitive, low-carbon polymers for advanced chemicals and plastics. The strategic agreement includes a licensing agreement and a conditional offtake agreement, aiming for a 100 metric kilotons per annum production scale. An upfront payment of €5 million and an additional €7.5 million will benefit Avantium, enhancing market development efforts.

Origin Materials, Inc. (Nasdaq: ORGN, ORGNW), a leader in carbon-negative materials, announced Co-Founder John Bissell's participation in the BofA Securities Global Agriculture and Materials Conference in Fort Lauderdale, FL on March 1-2, 2023. Bissell will discuss 'New Technologies and Sustainable Plastic' on March 2, 2023 at 1:50pm EST and engage in meetings with institutional investors. The company focuses on converting non-food biomass into sustainable materials, targeting over a $1 trillion market. More details on events can be found on Origin's Investor Relations website.

Origin Materials (NASDAQ: ORGN, ORGNW) will release its fourth quarter 2022 results on February 23, 2023, after market close, followed by a 5:00 p.m. ET conference call. Investors can listen via webcast or dial in using specified numbers for domestic and international access. A replay will be available two hours post-call, lasting until March 9, 2023. The company emphasizes its role as a leader in carbon negative materials and aims to facilitate the shift to sustainable materials, tapping into a ~$1 trillion market. Shareholders are invited to submit questions until February 16, 2023, for inclusion in the conference call.

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.