News13Now
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Packers puzzled as talks with QB Rodgers 'never transpired' – ESPN

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    All The World Is A Stage, But You Don’t Have To Be A Player When You Present – Forbes

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Teen business owner is also a sculptor – CBS News

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Can You Use Your 529 To Take A Cruise? – Forbes

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Bloomberg Politics on Instagram – Bloomberg – Bloomberg

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Spring Break Experiments with Mr. Science – WGN TV Chicago

    Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

    Israel: Mass protests against judicial reform leave country paralyzed – CNN

    Trending Tags

    • Lifestyle
      • All
      • Food
      • Health
      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      North Carolina Expands Medicaid After Republicans Abandon Their Opposition – The New York Times

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      You Were Missed! Just Cooking BBQ And More Is Moving To Killeen … – ktemnews.com

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      Columbia County Health and Wellness Expo – WJBF-TV

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      The Acidic Foods To Avoid Cooking On Top Of Aluminum Foil – Daily Meal

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      5 Ways to Help Protect Your Health During Spring Break … – Times of San Diego

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      20 Ways To Use Textured Vegetable Protein In Your Cooking – Tasting Table

      Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

      Joint statement on regional healthcare facilities' masking … – Tacoma-Pierce County Health Department

      Trending Tags

      • Entertainment
        • All
        • Sports
        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        City of Fort Dodge prepares to borrow $14.5 million – Fort Dodge Messenger

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        Jurupa Hills TV production students are honored at SBVC Film Festival – Fontana Herald-News

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        Vote for the first Player of the Week of the spring sports season – Delmarva Now

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        'Succession' Season 4 Release Schedule – When Do New Episodes Drop? – Men's Health

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        Fantasy Baseball Rankings 2023: Breakouts, sleepers, busts by computer model that predicted Votto's struggles – CBS Sports

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        Louisville in familiar March Madness spot, face Iowa – Marshalltown Times Republican

        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

        Today in Entertainment History: Costello released 1st single – Federal News Network

        Trending Tags

        • Tech
          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Forum Energy Technologies Awarded Approximately $25 Million Contract to Provide Desalter Systems to Saudi Aramco – Yahoo Finance

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Toledo Technology students get early look at engineering careers – Toledo Blade

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Technology has become the double-edged sword of Asia's protests – BBC

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Panera Bread will use palm-scanning technology for its loyalty program – WLTX.com

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Hong Kong entering a 'golden era' of I&T, with major career opportunities – South China Morning Post

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Cowbell opens new technology center in Pune, India – Reinsurance News

          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

          Big Tech generative AI race continues: This week’s announcements by Google, Nvidia, Adobe, Microsoft – The Indian Express

          Trending Tags

          Tuesday, March 28, 2023
          No Result
          View All Result
          • Home
          • News
            • All
            • Business
            • Politics
            • Science
            • World
            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Packers puzzled as talks with QB Rodgers 'never transpired' – ESPN

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            All The World Is A Stage, But You Don’t Have To Be A Player When You Present – Forbes

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Teen business owner is also a sculptor – CBS News

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Can You Use Your 529 To Take A Cruise? – Forbes

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Bloomberg Politics on Instagram – Bloomberg – Bloomberg

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Spring Break Experiments with Mr. Science – WGN TV Chicago

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Israel: Mass protests against judicial reform leave country paralyzed – CNN

            Trending Tags

            • Lifestyle
              • All
              • Food
              • Health
              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              North Carolina Expands Medicaid After Republicans Abandon Their Opposition – The New York Times

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              You Were Missed! Just Cooking BBQ And More Is Moving To Killeen … – ktemnews.com

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              Columbia County Health and Wellness Expo – WJBF-TV

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              The Acidic Foods To Avoid Cooking On Top Of Aluminum Foil – Daily Meal

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              5 Ways to Help Protect Your Health During Spring Break … – Times of San Diego

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              20 Ways To Use Textured Vegetable Protein In Your Cooking – Tasting Table

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              Joint statement on regional healthcare facilities' masking … – Tacoma-Pierce County Health Department

              Trending Tags

              • Entertainment
                • All
                • Sports
                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                City of Fort Dodge prepares to borrow $14.5 million – Fort Dodge Messenger

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Jurupa Hills TV production students are honored at SBVC Film Festival – Fontana Herald-News

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Vote for the first Player of the Week of the spring sports season – Delmarva Now

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                'Succession' Season 4 Release Schedule – When Do New Episodes Drop? – Men's Health

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Fantasy Baseball Rankings 2023: Breakouts, sleepers, busts by computer model that predicted Votto's struggles – CBS Sports

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Louisville in familiar March Madness spot, face Iowa – Marshalltown Times Republican

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Today in Entertainment History: Costello released 1st single – Federal News Network

                Trending Tags

                • Tech
                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Forum Energy Technologies Awarded Approximately $25 Million Contract to Provide Desalter Systems to Saudi Aramco – Yahoo Finance

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Toledo Technology students get early look at engineering careers – Toledo Blade

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Technology has become the double-edged sword of Asia's protests – BBC

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Panera Bread will use palm-scanning technology for its loyalty program – WLTX.com

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Hong Kong entering a 'golden era' of I&T, with major career opportunities – South China Morning Post

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Cowbell opens new technology center in Pune, India – Reinsurance News

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Big Tech generative AI race continues: This week’s announcements by Google, Nvidia, Adobe, Microsoft – The Indian Express

                  Trending Tags

                  No Result
                  View All Result
                  News13Now
                  No Result
                  View All Result
                  Home Tech

                  Origin Materials, Market Leader in Disruptive Materials Technology, Completes Business Combination With Artius, Creating First Publicly Traded Pure Play Carbon Negative Materials Company

                  by Editor
                  June 25, 2021
                  in Tech
                  0
                  Origin Materials, Market Leader in Disruptive Materials Technology, Completes Business Combination With Artius, Creating First Publicly Traded Pure Play Carbon Negative Materials Company
                  495
                  SHARES
                  1.4k
                  VIEWS
                  Share on FacebookShare on Twitter


                  WEST SACRAMENTO, Calif.–(BUSINESS WIRE)–Origin Materials, Inc., the world’s leading carbon negative materials company, announced today that it has completed its previously announced business combination with Artius Acquisition Inc. (“Artius”) (NASDAQ: AACQ, AACQW).

                  The transaction was unanimously approved by Artius’ Board of Directors and was approved at an extraordinary general meeting of Artius shareholders on June 23, 2021. In connection with the closing, Artius changed its name to Origin Materials, Inc. (“Origin Materials,” “Origin,” or the “Company”). The ticker symbols for the common stock and warrants of Origin will change from “AACQ” and “AACQW” to “ORGN” and “ORGNW”, respectively and will begin trading as such on the Nasdaq on June 25, 2021.

                  Company Background

                  Founded in 2008, Origin is the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials. Origin’s patented drop-in technology, economics and carbon impact are supported by a growing list of major global customers and investors. Origin’s technology has been further supported by an ISO-compliant Life Cycle Assessment (LCA) which concluded that Origin’s products are expected to be carbon negative when produced at commercial scale.

                  While an estimated 55% of global carbon emissions come from energy generation and transport, the other 45% come from the production of materials for consumer and industrial products. More than ten million barrels of oil per day are used to create materials, in the process releasing new carbon into the atmosphere. Origin’s vision for the future is to replace this oil use with non-food feedstocks and materials while capturing carbon in the process.

                  Origin Materials’ patented technology platform, which turns inexpensive, plentiful, sustainable wood residues into carbon negative materials, 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 Materials’ 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.

                  Since announcing the business combination with Artius on February 17, 2021, Origin Materials has increased its customer demand from signed offtake agreements and capacity reservations by 90% to $1.9 billion from the $1 billion previously disclosed. This increase also greatly expanded the Company’s end markets beyond its Fortune Global 500 CPG customers – Danone, Nestlé Waters, PepsiCo – to include industrial and apparel textiles, automotive parts, insulating foams and other applications.

                  The Company also implemented the following new and expanded partnerships and customer relationships:

                  • June 15, 2021: Strategic alliance with Palantir Technologies (NYSE:PLTR) to accelerate the world’s transition to net zero carbon focused on decarbonizing the global materials supply chain.
                  • June 10, 2021: Launched Net Zero Automotive program with Ford Motor Company (NYSE:F) focused on industrializing new materials to drive decarbonization in the automotive industry
                  • April 27, 2021: Partnership with Mitsubishi Gas Chemical to industrialize advanced carbon negative chemicals and materials for applications in the automotive, medical, food, information and communication, energy, and infrastructure sectors.
                  • April 20, 2021: Partnership with Solvay to develop advanced carbon negative materials for the automotive industry.
                  • April 19, 2021: Strategic alliance with PrimaLoft to develop carbon negative insulating fiber for outdoor gear, bedding and apparel. PrimaLoft’s iconic brand partners include Patagonia, Stone Island, L.L. Bean, Lululemon, adidas and Nike.
                  • April 12, 2021: Partnership with Packaging Matters to advance carbon negative packaging solutions, building on an existing 10-year supply agreement.
                  • April 6, 2021: Partnership with AECI Much Asphalt to develop low-carbon asphalt.
                  • April 5, 2021: Partnership with AEC SANS Technical Fiber to develop carbon negative materials for apparel and automotive applications.

                  Management Commentary:

                  John Bissell, Co-Founder and Co-CEO of Origin Materials, commented, “We are excited to complete this transaction, which will further accelerate our growth and mission of enabling the world’s transition to sustainable, carbon negative materials. The materials supply chain accounts for nearly half of all global carbon emissions, creating a significant opportunity to decarbonize materials that are used in products across a wide range of end markets. We believe our breakthrough technology provides countless companies that make physical products with the ability to drastically reduce their emissions in a cost-effective manner.”

                  Rich Riley, Co-CEO of Origin Materials, commented, “Our strategic customer base has grown dramatically, driven by new partnerships with industry-leading companies that are at the forefront of decarbonization and corporate sustainability. With the capital from this transaction, we are well positioned to scale our technology platform and help our customers meet their decarbonization and ESG goals. We are energized by the exciting opportunities that lie ahead as we commercialize our technology and transition to a world of net zero carbon.”

                  Boon Sim, Chief Executive Officer of Artius, commented, “We pursued a merger with Origin Materials because we wanted to make sure that we invested in a company with technology that has been tested and validated. We conducted significant due diligence evaluating their technology and their expanded customer base is further validation of their technology’s ability to help the world transition to net zero carbon. With their breakthrough technology and significant customer base we are highly confident in Origin’s ability to disrupt the materials supply chain and enable their customers’ decarbonization goals, which we believe will deliver significant long-term shareholder value.”

                  Transaction Overview

                  The transaction previously valued at approximately $1 billion is supported by existing and new investors, including Danone, Nestlé Waters, PepsiCo, Mitsubishi Gas Chemical and AECI, as well as certain funds and accounts managed by Sylebra Capital, Senator Investment Group, Electron Capital Partners, BNP Paribas AM Energy Transition Fund and affiliates of Apollo. Origin Materials will use the proceeds to fund the Company’s planned growth, including the completion and commissioning of its first commercial plant, which is expected to be operational in 2022, and of its second commercial plant, which is expected to be operational in 2025.

                  Origin’s senior management team will continue to lead the combined company. The Board of Directors of the combined company will consist of John Bissell, Benno O. Dorer, Charles Drucker, Kathleen B. Fish, William Harvey, Pia Heidenmark Cook, Karen Richardson, Rich Riley and Boon Sim.

                  A more detailed description of the transaction can be found in the definitive proxy statement/prospectus filed with the SEC on May 27, 2021.

                  Advisors

                  BofA Securities served as exclusive financial advisor to Origin, and Cooley LLP served as legal advisor to Origin. Credit Suisse and Goldman Sachs & Co. LLC served as joint financial and capital markets advisors to Artius and served as co-placement agents. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to Artius.

                  About Origin Materials

                  Headquartered in West Sacramento, Origin Materials is the world’s leading carbon negative materials company. Origin Materials’ mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin Materials has developed a platform for turning the carbon found in non-food biomass into useful materials, while capturing carbon in the process. Origin Materials’ patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors. Origin Materials’ first commercial plant is expected to be operational in 2022 with a second commercial plant expected to be operational in 2025 and plans for additional expansion over the next decade.

                  For more information, visit www.originmaterials.com.

                  About Artius Acquisition Inc.

                  Artius was a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Artius was co-founded by Charles Drucker, the former CEO of WorldPay, Inc., a leading payments company, and its predecessor company, Vantiv. Inc., and Boon Sim, the Founder and Managing Partner of Artius Capital Partners LLC.

                  For more information, visit https://www.artiuscapital.com/acquisition.

                  Cautionary Note on Forward-Looking Statement

                  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, commercial and operating plans and product development plans. 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; disruptions and other impacts to Origin Materials’ business as a result of the COVID-19 pandemic and other global health or economic crises; changes in customer demand; failure to realize the anticipated benefits of the business combination; and those factors discussed in the definitive proxy statement/prospectus filed with the SEC on May 27, 2021 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.



                  Source link

                  Tags: ArtiusbusinessCarbonCombinationCompanyCompletescreatingDisruptiveleadermarketMaterialsNegativeOriginplayPubliclyPuretechnologyTraded
                  Share198Tweet124Share50
                  Editor

                  Editor

                  Mary Kay Continues Its Commitment to Skin Science

                  Mary Kay Continues Its Commitment to Skin Science

                  January 13, 2022
                  Boost digital transformation with algorithmic business thinking

                  Boost digital transformation with algorithmic business thinking

                  September 30, 2021
                  Councilwoman drops out of Radford City Council race | Govt and Politics

                  Councilwoman drops out of Radford City Council race | Govt and Politics

                  September 14, 2022
                  Jonesborough celebrates first day of Chocolate Fest | Arts & Entertainment

                  Jonesborough celebrates first day of Chocolate Fest | Arts & Entertainment

                  February 11, 2022
                  Why a Utah mom of two thinks education funding should not be used to balance the state budget.

                  Why a Utah mom of two thinks education funding should not be used to balance the state budget.

                  April 18, 2022
                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  20 Ways To Use Textured Vegetable Protein In Your Cooking – Tasting Table

                  March 25, 2023
                  MORNING BUSINESS REPORT: Home prices up, food labeling is lacking, expensive coffee – WFSB

                  MORNING BUSINESS REPORT: Home prices up, food labeling is lacking, expensive coffee – WFSB

                  January 21, 2022

                  Governor reboots speech on legislative agenda for New Mexico | Govt-and-politics

                  January 26, 2021

                  PIPA and Mars, Incorporated accelerate science discovery in food and health using Artificial Intelligence

                  April 26, 2022

                  Latest Vegas sports arena and resort ready for possible NBA expansion – The Nevada Independent

                  June 29, 2022

                  Airbnb Mogul Offers Insight Into How The Entertainment Industry And Others Affect The Airbnb Market

                  August 25, 2022

                  Turner Sports and CBS Sports Announce Tip Times and Matchups for Second Round Games on Sunday, March 21

                  March 20, 2021

                  100°C and Hot Pot gives diners the chance to cook for themselves – Tulsa World

                  February 3, 2021

                  The business of ‘Friends’: How the sitcom and cast keeps cashing in

                  May 22, 2021

                  Florida home schoolers want no part in voucher expansion bill – Tampa Bay Times

                  February 20, 2023

                  Local sports bar loses revenue on Super Bowl Sunday due to COVID-19

                  February 7, 2021
                  News13Now

                  News 13 Now!

                  Categories

                  • Business
                  • Entertainment
                  • Food
                  • Health
                  • News
                  • Politics
                  • Science
                  • Sports
                  • Tech
                  • World

                  Recent News

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  City of Fort Dodge prepares to borrow $14.5 million – Fort Dodge Messenger

                  March 28, 2023
                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Packers puzzled as talks with QB Rodgers 'never transpired' – ESPN

                  March 27, 2023

                  Copyright © 2022 The Blakeslee Group, Inc.

                  No Result
                  View All Result
                  • Home
                  • Entertainment
                    • Gaming
                    • Movie
                    • Music
                    • Sports
                  • Lifestyle
                    • Fashion
                    • Food
                    • Travel
                    • Health
                  • News
                    • Business
                    • Politics
                    • Science
                    • World
                  • Tech
                    • Apps
                    • Gadget
                    • Mobile

                  Copyright © 2022 The Blakeslee Group, Inc.