Origin Materials announces mechanical completion of its first commercial manufacturing plant

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Type of post: NEWS IN BRIEF.

Origin Materials has announced the mechanical completion of Origin 1, its first commercial manufacturing plant, in-line with the previously disclosed timeline. Commissioning is expected to be completed by the end of Q1 2023 with start-up beginning shortly thereafter.

As part of mechanical completion, the plant's critical mechanical systems have been successfully installed and commissioning has begun. Work onsite will continue, including electrical work, adding new equipment, and further refining technology.

Work at the plant continues following this key achievement, with plant commissioning to support start-up anticipated to be complete around the end of Q1 2023 and start-up beginning shortly thereafter. Origin 1 is expected to start to address growing customer demand for its renewable materials and allow customers to qualify products and applications beyond PET. The Company expects to provide guidance on revenue, EBITDA, and other financial metrics for full year 2023 on its next earnings call.

Origin 1 is located in Sarnia, Ontario, Canada. This commercial-scale plant is anticipated to produce sustainable materials including chloromethylfurfural (CMF), which can subsequently be converted into high-performance products used in packaging, textiles, apparel, automotive, and other applications, as well as hydrothermal carbon (HTC). HTC can be used in fuel pellets, as activated carbon, and as a replacement for carbon black. Origin’s patented technology platform can turn the carbon found in sustainable wood residues into useful materials while capturing carbon in the process. The plant is expected to be able to convert an estimated 25,000 dry metric tons of biomass each year into products for a wide range of end markets.

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