Origin Materials

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Origin Materials, Inc.
Formerly
Micromidas, Inc.
Public company
Traded asNASDAQ
IndustryChemical Industry
Founded2008; 16 years ago (2008) in West Sacramento, California, US
Founders
  • John Bissell
  • Ryan Smith
  • Casey McGrath
Headquarters
West Sacramento, California
,
United States
Key people
  • John Bissell
  • Rich Riley
Products
  • Chloromethylfurfural
  • Hydrothermal carbon
  • Levulinic acid
  • Furfural
Websiteoriginmaterials.com

Origin Materials is a carbon negative material company in the chemical industry headquartered in West Sacramento, California. The company’s mission is to enable the world’s transition to sustainable materials.

Origin developed a patented process to convert cellulose biomass to the basic chemical building blocks used to make industrial and consumer products. Waste, byproducts, and offcuts from sustainably harvested timber is the preferred feedstock, but agricultural waste, cardboard, and other ligneous biomass can also be used.[1]

They are focused on providing carbon negative materials to partner companies to help them meet their carbon reduction goals. Companies around the world have set tiered goals to reduce their carbon footprint following the Paris Agreement. The first milestone include a 50% reduction in carbon emissions by 2030, with the end goal of achieving net zero by 2050.[2] These ambitious goals are considered “one of the greatest challenges humankind has faced” by the United Nations.[3] While more than a third of the world’s largest companies are now committed to net zero on paper, most are not on track to concretely achieve those goals.[4][5]

Origin’s partners include Nestle, Danone, Pepsi,[6] Mitsubishi, Ford, Revlon, and others. Some of these companies have more aggressive carbon reduction goals than the Paris Agreement and are eager to find carbon neutral alternatives to their current materials. As one of the world’s largest sectors, the chemical industry is one of the most significant energy consumers and top producers of CO2.[7]

To date Origin has produced limited quantities of their materials from their two pilot plants. Their first commercial plant was opened in June 2023.[8]

History

Early Years

In 2008 John Bissell, Ryan Smith, and Casey McGrath, seniors at the University of California Davis, entered and won the EPA P3 (People, Prosperity and the Planet) student design competition. They received $75,000 in grant funding to continue exploring their technology.[9] After graduating they founded Micromidas Inc. and continued to focus on converting wastewater to PET plastic through a biological process.[10][11]

Micromidas began raising funding in 2010 to begin construction of their pilot plant in West Sacramento.[12] Building on the research of UC Davis Chemistry Professor Mark Mascal, they shifted to a new conversion process. They developed a one-step chemical process to replace the biological process, and utilized cellulose inputs. This change reduced processing time to be within minutes instead of days, and produced additional chemical intermediaries. Origin subsequently procured a series of patent families for this technology.[13]

By 2014 Micromidas had raised over $25 million to build the pilot-scale plant in West Sacramento and had successfully created PET plastic.[14]

Micromidas began doing business as Origin Materials in 2017.[15]

Production

In March, 2017, Danone and Nestlé Waters joined with Origin to form the NaturALL Bottle Alliance. Together, their goal is to provide PET plastic bottles made from bio-based material at commercial scale.[16] A year later, PepsiCo also joined the NaturALL Bottle Alliance.[17]

In June of 2017, Origin announced Sarnia, Ontario, Canada as the site of its first commercial plant.[18] This plant, known as Origin 1 (O1), would demonstrate their products could be manufactured at a commercial scale.[13] Construction of O1 began in 2018[19] and experienced some construction delays due to supply chain challenges resulting from the COVID-19 pandemic.

In February of 2022, Louisiana Governor John Bel Edwards and Origin Materials announced their second, larger manufacturing facility, Origin 2 (O2), would be built on the 150-acre LED-Certified Parks Geismar site in Ascension Parish, outside Baton Rouge, Louisiana.[20]

Origin announced it began startup of O1, the world’s first commercial CMF plant, on June 27, 2023, and in July the plant was opened.[21]

Public Company

Following his tenure at Shazam, Rich Riley joined Origin Materials in 2020[22] as Co-CEO alongside John Bissell.[23]

In 2020, Charles Drucker (former CEO of WorldPay Inc.) and Boon Sim (formerly Temasek Holdings and Credit Suisse), founded Artius Acquisition Inc., publicly-traded special purpose acquisition company (SPAC) with a mission to find and merge with an innovative technology business.[24] In February of 2021, Origin and Artius announced their definitive agreement to combine their businesses [25] and went public on NASDAQ on June 25th with the ticker symbol “ORGN.”[26]

References

  1. ↑ Vinoski, Jim. "Has Origin Materials Cracked The Code On Carbon-Negative Plant-Based Plastics?". Forbes. Retrieved 2023-08-04.
  2. ↑ "Net Zero by 2050 – Analysis". IEA. Retrieved 2023-08-04.
  3. ↑ "For a livable climate: Net-zero commitments must be backed by credible action". Net Zero Coalition | United Nations. Retrieved 2023-08-04.
  4. ↑ "Nearly All Companies Will Miss Net Zero Goals Without At Least Doubling Rate of Carbon Emissions Reductions by 2030, Accenture Report Finds". Accenture Newsroom. Retrieved 2023-08-04.
  5. ↑ Mendiluce, Maria (2022-11-10). "A Guide to Achieving Net Zero Emissions". Harvard Business Review. ISSN 0017-8012. Retrieved 2023-08-04.
  6. ↑ Engel, Linda (2018-09-14). "Danone, Nestlé Waters and Origin Materials welcome PepsiCo to the NaturALL Bottle Alliance". Renewable Carbon News. Retrieved 2023-08-04.
  7. ↑ "Chemical Sector Overview". IEA. Retrieved 2023-08-04.
  8. ↑ Laird, Karen (2023-06-29). "Origin Materials starts up first commercial manufacturing plant". Sustainable Plastics. Retrieved 2023-08-04.
  9. ↑ "Production of Natural Plastics in Wastewater Treatment | Research Project Database | Grantee Research Project". United States EPA. Retrieved 2023-08-03.
  10. ↑ Kane, Elise. "Micromidas Inc. - Sacramento - LocalWiki". LocalWiki. Retrieved 2023-08-03.
  11. ↑ Herrin, Douglas (2013-11-26). "Advice from Student Entrepreneurs: "Embrace your Chutzpah"". The White House | USA.gov. Retrieved 2023-08-04.
  12. ↑ "Micromidas to test sludge-to-plastic tech". CNET. Retrieved 2023-08-04.
  13. ↑ 13.0 13.1 Skoczek, Marianne (2021-03-31). "Origin Materials: Disrupting the Plastic Bottle Mold". UC Davis Mike and Renee Child Institute for Innovation and Entrepreneurship. Retrieved 2023-08-04.
  14. ↑ Howard, Lisa (2016-04-14). "Startups with Roots at UC Davis Pivot as Innovations Become Businesses". UC Davis Office of Research. Retrieved 2023-08-04.
  15. ↑ Lane, Jim (July 24, 2017). "Top 10 Storylines: Heard on the Floor at the 2017 BIO World Congress". The Daily Digest. Retrieved 2023-08-03.
  16. ↑ "Danone and Nestlé Waters Launch NaturALL Bottle Alliance". Nestlé USA. 2017-03-02. Retrieved 2023-08-04.
  17. ↑ Mohan, Anne Marie (2018-09-11). "PepsiCo joins NaturALL Bottle Alliance". Packaging World. Retrieved 2023-08-04.
  18. ↑ Morden, Paul (2018-08-23). "Construction on Origin Materials pioneer plant underway". Sarnia-Lambton Economic Partnership. Retrieved 2023-08-04.
  19. ↑ Côté-Paulette, Colin (2018-07-16). "As biochemical companies set up shop in Sarnia, some say a greener future is coming to the region". CBC News / Radio Canada. Retrieved 2023-08-03.
  20. ↑ "Gov. Edwards, Origin Materials Announce $750 Million Sustainable Materials Facility in Ascension Parish". Office of Governor John Bel Edwards. February 16, 2022. Retrieved July 14, 2023.
  21. ↑ Irwin, Melanie (2023-07-19). "Origin Materials celebrates Origin 1 start-up". CK News Today. Retrieved 2023-08-04.
  22. ↑ "Rich Riley". YPO. Retrieved 2023-08-04.
  23. ↑ "From Petrochemical to Biomass: A Co-CEO Journey with Origin Materials". My Climate Journey Collective Newsletter. 2023-05-01. Retrieved 2023-08-04.
  24. ↑ "Artius Acquisition Inc". Artius Asset Management. Retrieved 2023-08-04.
  25. ↑ Laird, Karen (2021-02-21). "Origin Materials gets SPAC merger deal". Sustainable Plastics. Retrieved 2023-08-04.
  26. ↑ "Artius Completes Business Combination With Origin Materials | Cleary Gottlieb". Cleary Gottlieb Steen & Hamilton LLP. Retrieved 2023-08-04.

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