Origin Materials, Inc. | June 08, 2022
The U.S. Environmental Protection Agency has awarded Origin Materials, Inc. the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, in partnership with Professor Mark Mascal of the University of California, Davis its prestigious Green Chemistry Challenge Award in the category of Specific Environmental Benefit – Climate Change. Origin Materials and UC Davis together were one of just five 2022 Green Chemistry Challenge Award winners who were honored at a ceremony at the annual American Chemical Society Green Chemistry & Engineering Conference that is taking place in Reston, Virginia from June 6-8, 2022.
The award recognizes the technology behind Origin’s patented platform for turning the carbon found in sustainable wood residues into useful materials for a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more, while capturing carbon in the process. At commercial scale, this novel chemistry is expected to produce sustainable and recyclable carbon negative materials at a fraction of the cost of other bio-based technologies, making “net zero” possible and helping customers in a wide range of industries to meet their ESG and decarbonization goals.
Origin Co-founder & Co-CEO John Bissell and Co-founder & CTO Ryan Smith began collaborating with Professor Mascal while earning degrees in Chemical Engineering at UC Davis over a decade ago.
“Origin’s vision is a world where carbon-negative products and materials are the rule, not the exception, and our technology was built around converting low-cost, non-food, and sustainable feedstock into decarbonized, supply chain ready materials. We are honored to earn the EPA Green Chemistry Challenge Award in partnership with Professor Mascal and the University of California, Davis, as we deploy our platform technology to make ‘net zero’ a reality for a growing number of customers and partners around the world.”
Origin Materials Co-CEO John Bissell
“Tackling environmental challenges like climate change and the disproportionate impact of pollution in communities with environmental justice concerns is going to take creative and innovation solutions – and sustainable, green chemistry is a critical part of that,” said EPA Office of Chemical Safety and Pollution Prevention Deputy Assistant Administrator Jennie Romer. “Preventing waste, reducing energy use, and avoiding hazardous chemicals, all of which we’re recognizing with our awards today, demonstrate the power and potential green chemistry has to protect human health and the environment while providing benefits to businesses and our economy.”
The EPA recognizes green chemistry as the design of chemical products and processes that reduce or eliminate the generation and use of hazardous substances. This year’s winners have developed new and innovative green chemistry technologies that provide solutions to significant environmental challenges, and spur innovation and economic development.
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. For over a decade, 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.
About EPA’s Green Chemistry Challenge Awards
Since the inception of the awards more than a quarter century ago, EPA and the American Chemical Society, which co-sponsor the awards, have received more than 1,800 nominations and presented awards to 133 technologies that decrease hazardous chemicals and resources, reduce costs, protect public health, and spur economic growth. Winning technologies are responsible for annually reducing the use or generation of hundreds of millions of pounds of hazardous chemicals and saving billions of gallons of water and trillions of British thermal units (BTUs) in energy.
LG Chem | May 16, 2022
LG Chem announced that it has developed a new plastic product for battery application that is capable of preventing the spread of flame in batteries, delivering the longest fire-resistance performance in the world.
LG Chem’s flame-retardant engineering plastic product is able to prevent the spread of flames, thanks to the company’s proprietary technology and manufacturing methods. The new advanced flame barrier product created by LG Chem is a highly functional engineering plastic product made from various composites including polyphenylene oxide and polyamide (PA) resin.
“We are proud to present this new product, a significant milestone for us after more than 10 years of dedicated research to deliver innovation for our customers. LG Chem continues to lead the rapidly evolving e-Mobility market, and we will continue to lead innovations through consistent R&D and investments in manufacturing based on our world-class chemical compounding technology.”
Steven Kim, Senior Vice President of Engineering Materials Division at LG Chem
When used in battery components, the new product is resistant to flames for a longer period of time due to its superior properties. It also features excellent dimensional stability and maintains its shape under changing temperature conditions. During LG Chem’s testing, the product was able to prevent the spread of flames caused by thermal propagation for over ten minutes at 1,000°C, 10 times longer than general plastics.
Thermal runaway is the leading cause of EV battery fires, where various stressors can cause heat to build up within a battery cell. When a battery cell exceeds its temperature threshold, fire can occur due to a short circuit triggered by factors such as overcharging and over-discharging. The resulting fire is difficult to extinguish as lithium reacts violently with water. Application of LG Chem’s new engineering plastic product to battery components would benefit drivers and passengers, giving them more time to evacuate a vehicle in case of a damaged and overheating battery.
Commercial production of the new product is on target to begin in 2023 aligned with customers’ demands and schedules. The company is currently in the process of obtaining patents in Korea, the United States and selected European markets.
About LG Chem
LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high value-added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated KRW 42.7 trillion in sales in 2021.
ReMo Energy | July 15, 2022
ReMo Energy, an innovator and manufacturer of industrial materials through the use of renewable energy in lieu of fossil fuels, today announced that it has raised an additional $5.25M Seed round led by early growth fund AiiM Partners, with participation from Breakthrough Energy Ventures, Darco Capital and other strategic angel investors.
ReMo Energy is accelerating the decarbonization of industrial materials, including ammonia, fuels, and polymers - altogether a trillion-dollar market responsible for 14 gigatons of greenhouse gasses annually. ReMo uses predictive modeling and a novel approach for the construction of plants to overcome the challenges of using distributed intermittent renewable energy sources. The company’s facilities are lower capex and standardized, enabling ReMo to build and scale faster while also producing and distributing its products at lower cost. The company’s initial target market is ammonia, one of the most critical inputs to global agriculture and food production, and currently supply-constrained by macroeconomic events such as the war in Ukraine. While ReMo will initially focus on green ammonia for clean fertilizer applications in the corn belt of the U.S., future markets will include shipping fuel and hydrogen storage.
ReMo Energy will use the funding proceeds to scale commercial operations throughout the US Midwest and meet demand from its growing base of customers.
“We always seek opportunities to mitigate climate change, but our approach does more than that. ReMo both enables decarbonization and makes the agricultural supply chains more resilient - all without adding cost for the farmer.”
Scott Rackey, CEO and Co-founder of ReMo Energy
Shally Shanker, Founder and Managing Partner of AiiM Partners, will be joining the Board of Directors. “ReMo’s technology and innovative approach can scale production of renewable materials in two years, versus what typically takes ten years for competitors, while also being cheaper than fossil-fuel based products,” Shally said. “Their solution will accelerate the transition of hard-to-decarbonize sectors and help us avoid the worst of climate change.”
Carmichael Roberts of Breakthrough Energy Ventures said, “ReMo is at the leading edge of developments in renewable materials. ReMo’s ammonia product can play a critical role in decarbonizing the agricultural industry while also ensuring growers get the low-cost nitrogen fertilizers they need. ReMo Energy’s technology benefits all stakeholders, including renewable energy developers and fertilizer purchasers.”
About ReMo Energy
ReMo Energy’s mission is to make today’s fossil-based chemicals from renewable energy. The company has deep expertise in renewable energy, chemical engineering, and project development. ReMo Energy has reimagined every step of chemical production processes to adapt them to the scale and intermittency of low cost solar and wind power projects. ReMo Energy’s products make it possible for the world to improve global quality of life while also massively reducing the emissions of greenhouse gasses and other pollutants.
About AiiM Partners
AiiM Partners invests in market-leading climate change solutions addressing a $17 trillion global opportunity-- with focus on the alternative materials, agriculture & food systems, energy transition and data & digitization sectors. Their diverse team has over a ten-year track record of investing in climate change companies and comprises investors, entrepreneurs, operators and industry experts with over 160 years of combined experience. AiiM focuses on identifying market leaders with commercial solutions that can generate measurable environmental impact and top tier financial performance within a decade. Their team takes a holistic approach towards addressing the climate problem, prioritizing solutions that not only reduce but also sequester greenhouse gasses.
About Breakthrough Energy Ventures
Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.
Trecora Resources | June 28, 2022
Balmoral Funds, LLC announced that it has successfully completed its previously announced acquisition of Trecora Resources at a price of $9.81 per share, net to each seller, in cash, without interest and subject to any required tax withholdings.
With the completion of the acquisition, Trecora's stock will cease trading on the New York Stock Exchange and Trecora will no longer be listed on any public market.
Blank Rome LLP served as legal advisor to Balmoral, and Piper Sandler served as financial advisor to Balmoral. Guggenheim Securities, LLC served as exclusive financial advisor to Trecora, and Morgan, Lewis & Bockius LLP served as legal advisor to Trecora.
About Balmoral Funds
Balmoral is a Los Angeles, CA based private equity fund that was founded in 2005. Balmoral's objective is to be the financial partner of choice for entrepreneurial, emotionally intelligent and successful C-suite executives and operating advisors creating transformative, revitalizing change in the businesses they co-invest in together. Balmoral has approximately $1.5 billion of assets under management. Balmoral typically invests in companies that have revenues between $30 to $500 million and require equity investments of $10 to $100 million, with the capability of investing an additional $100 million or more in particularly compelling opportunities.
About Trecora Resources
Trecora owns and operates a specialty petrochemicals facility specializing in high purity hydrocarbons and other petrochemical manufacturing and a specialty wax facility, both located in Texas, and provides custom processing services at both facilities.