Origin Materials, Inc. and Mitsubishi Chemical Holdings Group have joined hands to develop advanced chemicals and materials for making tires based on Origin Materials' patented technology platform. Origin Materials is the world’s leading carbon-negative materials company, and Mitsubishi is Japan’s leading producer of diversified chemicals and advanced materials.
MCHG will convert Origin's hydrothermal carbon into high-performance analogs of specialty carbon black materials as per a strategic plan under their partnership. These materials will be tested and developed in collaboration with one of the world's largest tyre companies. In addition, the collaboration with MCHG's global supply chain expertise will benefit in accessing Japanese and international markets and technological innovation capabilities.
According to Grand View Research, Inc., the global carbon black market will reach $26 billion by 2025 while mounting at a CAGR of 6%. Furthermore, it is reported that approximately 70% of the world's carbon black is used as a tyre reinforcing filler.
Origin's patented technology platform has the potential to revolutionize tyre manufacturing by reducing the product’s carbon footprints significantly. The collaboration has included a joint development agreement (JDA) between Origin and the MCHG Carbon Materials business unit. The partnership mirrors MCHG's efforts to achieve carbon neutrality by utilizing biomass to develop materials while achieving sustainable growth.
"We look forward to collaborating with Mitsubishi Chemical Holdings Group to develop new, better materials for making tyres while reducing carbon emissions. Mitsubishi Chemical Holdings Group's deep manufacturing capabilities, technical expertise, and worldwide customer network can enable extensive adoption of Origin's technology and help drive the once-in-a-generation shift to sustainable materials occurring in the automotive industry."
On this esteem collaboration and efforts, Rich Riley, co-CEO of Origin Materials