Origin Materials | September 24, 2021
Origin Materials, Inc., the world’s leading carbon negative materials company, today announced it has joined the Alliance to End Plastic Waste, a global non-profit organization.
Members of the Alliance include industry leaders across the plastics value chain, working towards a common goal of developing, deploying and scaling solutions to end plastic waste in the environment. As a member of the Alliance, Origin will work with fellow members to drive innovation and build a sustainable and circular global plastic value chain. The modern world is built on advanced materials like plastics which are high performance, light weight and cost effective. Since plastics are widely used for their functional advantages, companies are aggressively seeking net zero or low carbon sustainable solutions to fossil-based plastics.
The partnership builds on Origin’s ability to leverage its patented technology platform, which turns inexpensive, sustainable wood residues into carbon-negative materials, to decarbonize and mitigate the climate impact of the global plastic supply chain. Origin’s technology has broad implications for a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market.
Origin’s carbon negative PET is being commercialized to reduce the carbon footprint and climate impact of plastic materials. An analysis by the Ellen MacArthur Foundation found that the impacts of plastics on climate change have been widely underestimated.
Many of today's clothing, carpets, automotive parts, and other products are made from plastics and additional chemicals derived from fossil fuels. During petroleum extraction and processing, greenhouse gases are released into the atmosphere, contributing to global warming and climate change. Origin’s sustainable carbon-negative PET is physically and chemically identical to fossil-based PET. Since Origin PET is produced using sustainable wood residues instead of fossil fuel as feedstock, it has the potential to substantially reduce the energy used and greenhouse gases generated in the process. Additionally, compared with fossil-based PET, Origin PET is equally recyclable within the existing infrastructure, which is critical to creating a circular economy with a significantly reduced carbon footprint.
Stakeholders across the manufacturing sector and end product markets recognize that to create a sustainable, circular economy, we must aggressively decarbonize the global plastics supply chain to mitigate the climate impact of plastic, We are excited to join together with the Alliance to End Plastic Waste to drive awareness and technical expertise of carbon-negative innovations in reducing the footprint of plastics, and toward the new circular economy.
- Origin Materials co-CEO Rich Riley.
Jacob Duer, President and Chief Executive Officer of the Alliance, said: “As the issue of plastic waste moves up in the global sustainability agenda, our mission to develop, deploy and scale solutions to end plastic waste in the environment is more relevant than ever before. Strengthening participation across the plastics value chain with Origin Materials will help accelerate our collective efforts. Together, we can work towards helping to create a more sustainable future and I look forward to a fruitful partnership.”
About the Alliance to End Plastic Waste
The Alliance to End Plastic Waste (Alliance) is a global non-profit organisation with the mission to end plastic waste in the environment. The Alliance develops, deploys, and scales solutions across four strategic areas—infrastructure, innovation, education and engagement, and cleanup. As of June 2021, its portfolio comprises over 30 projects across 60 cities worldwide.
Tackling plastic waste is a complex challenge that requires collective action. Since 2019, the Alliance has convened a global network of industry leaders across the plastics value chain, together with government, civil society, entrepreneurs, and communities to work towards advancing a circular economy for plastic waste.
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can 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’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.
Richman Chemica, The Coretec Group | November 17, 2021
The Coretec Group, Inc., developers of engineered silicon and 3D volumetric displays, has entered into an agreement with Richman Chemical Inc. (RCI) to supply The Coretec Group’s Cyclohexasilane (CHS) to North American customers.
Due to increasing supply chain difficulties and overseas shipping delays due to the COVID19 pandemic, it was important that The Coretec Group work with a US company to supply our North American partners with CHS. On November 15th, The Coretec Group signed a supply agreement with Richman Chemical for the first run of CHS as well as experimental processing. Richman, as The Coretec Group’s domestic supply partner, will accelerate the domestic delivery times of CHS to customers and partners in the US.
“Richman’s expertise in custom synthesis from lab-scale to production is crucial to Coretec’s success. We additionally look forward to a collaborative relationship, working directly with their chemists and engineers on site as appropriate,”
Michelle Tokarz, VP of Partnerships and Innovation, at The Coretec Group
Christopher Kulp, Chief Commercial Officer of RCI, added, “The Coretec Group’s engineered silicon technology is a game-changer for the energy, display, and printable electronics markets. We are proud to provide a domestic development and scale-up solution that meets the company’s rigorous technical demands. Ultimately, we strive to condense commercialization timelines for our customers, and that is our over-arching priority for CRTG.”
About Richman Chemical
Founded in 1988, Richman Chemical offers solutions for process development, regulatory assistance, small-to-large-scale manufacturing, and expert project management. Richman Chemical is an excellent resource for virtual firms and venture capitalist-supported start-ups with limited budgets and constrained timelines for commercialization, and it also counts many Fortune 500 firms as its customers.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
ADM, LG Chem | September 15, 2021
a leading global diversified chemical company, and ADM , a global leader in nutrition and biosolutions, announced today that they have signed a memorandum of understanding (MoU) to explore US-based production of lactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics.
Under the terms of the agreement, which was signed by ADM Chairman and CEO Juan Luciano and LG Chem Vice Chairman and CEO Hak Cheol Shin at ADM’s global headquarters in Chicago, the two companies plan to take steps toward launching a joint venture in early 2022 that would build, own and operate a US-based facility to produce high-purity corn-based lactic acid on a commercial scale. According to Grand View Research, global demand for lactic acid – which is used broadly in food, feed and cosmetics in addition to industrials like bioplastics – was valued at approximately USD 2.7 billion in 2020, with an expected annual growth rate of 8 percent.
In addition, the companies will collaborate on a second joint venture that would use lactic acid produced by the first joint venture to produce and commercialize polylactic acid (PLA), a plant-based, biodegradable plastic that can be used in a wide array of products, from food packaging to clothing to upholstery. According to new market research by MarketsandMarkets™, demand for global bioplastics and biopolymers is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, representing a CAGR of 22.7%.
The two companies also agreed to actively cooperate in the joint development of technology for other biomaterials that can be applied in the biochemical and sustainability sector in the future.
“Consumers today are increasingly prioritizing environmentally-friendly, responsibly-produced products when they make buying decisions,” said Luciano. “ADM is meeting that demand for both nutrition and biomaterials customers alike. For non-nutrition customers, our BioSolutions growth platform is using our product streams to grow our presence in sustainable, higher-margin demand areas as wide ranging as pharmaceuticals and personal care, textiles, paper products, and even adhesives for helicopters. Today’s agreement is yet another way in which we’re delivering on growth opportunities in plant-based solutions. We’re excited to work with a global leader like LG Chem to expand US production of lactic acid and continue to expand our capabilities to meet growing demand for responsibly-produced products.”
“The establishment of a joint venture with ADM would be the beginning of a new journey, formalizing our cooperation and advancing us toward a sustainable business structure for the benefit of the environment and society,” said Hak Cheol Shin. “Once the joint venture is established, LG Chem would receive a stable supply of raw materials needed to enter the bioplastics market in earnest. As a part of our sustainable business strategy, LG Chem plans to accelerate the commercialization of biodegradable resins that can contribute to solving environmental problems such as climate change and waste plastics. As a leading company in sustainability, LG Chem will actively seek new ways to contribute to carbon-neutral growth.”
In addition to its use in the production of PLA, the lactic acid produced by the proposed joint venture would be sold for use in a wide variety of food and pharmaceutical applications.
This is not the first time LG Chem and ADM have worked together to meet growing demand for bio-based products. In 2019, the companies signed a joint development agreement (JDA) to secure mass production technology to create biobased acrylic acid, which can be used for the manufacture of superabsorbent polymers used in diapers and other hygiene products.
About LG Chem
LG Chem is a global leading diversified chemical company that mainly operates petrochemicals, advanced materials and life sciences businesses. The chemical business manufactures a wide range of products from high-value added petrochemicals to renewable plastics. LG Chem also extends its chemical expertise into high-tech areas such as electronic & battery materials and drugs & vaccines to deliver differentiated solutions for our customers. LG Chem aims to reach carbon-neutral growth by 2050 and promote RE100 at all business sites worldwide to suppress carbon emissions to 10 million tons, which is equivalent to the amount in 2019. Throughout multiple production facilities and extensive distribution network around the globe, LG Chem employs approximately 17,000 people and generated sales of KRW 30.1 trillion(USD 25.9 billion) in 2020.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over.