Origin Materials Converts Wood Residue Feedstock into Sustainable Intermediates at Commercial-Scale Plant

Business Wire 3-Apr-2024 7:00 AM

Feedstock milestone demonstrates versatility and scalability of biomass conversion technology

Origin Materials ("Origin") (NASDAQ:ORGN, ORGNW))), the world's leading carbon negative materials company with a mission to enable the world's transition to sustainable materials, today announced the successful conversion of wood residue feedstock into sustainable intermediates at Origin 1, its first commercial-scale plant.

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"This week we brought sustainable wood residue feedstock online for our biomass conversion technology at Origin 1," said John Bissell, Co-Founder and Co-CEO of Origin Materials. "This marks an evolution from the corn starch-based production we have employed since commencement of plant operations in October of last year. We are using locally sourced, Forest Stewardship Council (FSC) controlled wood residues produced by a sawmill as a byproduct of lumber and wood flooring production. From that mill's wood chips, shavings, and sawdust we produced our sustainable intermediates, which can be used to make a wide variety of products that normally would be made from petroleum. Products like apparel and textiles, plastics, tires and automotive components, fuels, and high-performance polymers, can all be produced from intermediates made from sawdust using our technology."

Converting the first batch of wood residues into sustainable intermediates demonstrated several milestones for the scale-up of Origin's biomass conversion technology. The commercial-production scale wood mill and wood handling system performed to specification, mechanically conveying wood residues from feed inventory into the reaction system. The reaction system performed well, producing Origin's intermediates CMF, HTC, and oils and extractives. Reactor effluent transferred smoothly to downstream unit operations. Yields and process insights generated during this run will inform planned process improvements and future production campaigns. This run will also provide proof points to demonstrate the relationship between feed types and HTC product morphology.

"Our customers are engaged and excited about the ability of our technology to create a variety of sustainable and in many cases performance-advantaged products using a range of feedstocks," continued Bissell. "We have proven the versatility of our technology to accept various feedstocks at lab scale. Now we have proven it at our commercial-scale plant, Origin 1, with respect to woody biomass. We look forward to continued progress in scaling our biomass conversion technology in support of our mission to enable the world's transition to sustainable materials."

The Origin 1 plant, located in Sarnia, Ontario, Canada, is an asset used to support Origin market development, including customer materials testing and formulation in preparation for future technology scale-up. With the plant's wood handling system activated and the successful conversion of wood residues into intermediates, including CMF, HTC, and oils and extractives, the company's biomass conversion technology continues to perform as expected and support market development activities. For sample inquiries, please contact commercialorders@originmaterials.com.

About Origin Materials Origin is the world's leading carbon negative materials company with a mission to enable the world's transition to sustainable materials. Our innovative technologies include all-PET caps and closures that bring recycling circularity and enhanced performance to a ~$65 billion market, specialty materials, and our patented biomass conversion platform that transforms carbon into sustainable materials for a wide range of end products addressing a ~$1 trillion market. Origin's technology, economics, and carbon impact are supported by a growing list of major global customers and investors. For more information, visit www.originmaterials.com.

Cautionary Note on Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin Materials' business strategy, estimated total addressable market, ability to advance and scale the business, ability to develop new product categories, and product development plans, and continued successful conversion of wood residues to intermediates and performance of Origin Materials' biomass conversion technology. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Origin Materials and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Origin Materials. These forward-looking statements are subject to a number of risks and uncertainties, including that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials' business; the uncertainty of the projected financial information with respect to Origin; disruptions and other impacts to Origin's business as a result of Russia's military intervention in Ukraine, the impact of severe weather events, and other global health or economic crises; changes in customer demand; and those factors discussed in the Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 5, 2024 under the heading "Risk Factors," and other documents Origin Materials has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Origin Materials presently does not know, or that Origin Materials currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials' expectations, plans, or forecasts of future events and views as of the date of this press release. Origin Materials anticipates that subsequent events and developments will cause its assessments to change. However, while Origin Materials may elect to update these forward-looking statements at some point in the future, Origin Materials specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Origin Materials' assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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