Benzinga | Jan 10, 2022 07:33AM EST

Origin Materials And Mitsui Form Strategic Partnership To Industrialize Advanced Carbon-Negative Chemicals And Materials

Origin Materials, Inc. ("Origin" or "Origin Materials") (NASDAQ:ORGN, ORGNW))), the world's leading carbon negative materials company with a mission to enable the world's transition to sustainable materials, and Mitsui & Co., Ltd. ("Mitsui"), a global leader in energy, machinery, chemicals, food, textile, logistics, finance, and more, today announced a strategic partnership to industrialize advanced carbon negative materials.

This strategic partnership aims to rapidly develop and industrialize new sustainable carbon-negative products for the automotive, chemicals, electronics, packaging, textiles, construction, and personal care industries based on Origin Materials' patented technology platform. The partnership will leverage Mitsui's global supply chain strength, access to Japanese and international markets, and leadership in business innovation. As part of the partnership, Mitsui signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin Materials.

"We are pleased to partner with Mitsui, a global leader in multiple business areas, including chemicals, textiles, and many others. We are strategically aligned and share a common vision for the role that sustainable, cost-competitive, carbon-negative materials can play in creating value worldwide," said Rich Riley, Co-CEO of Origin Materials. "This partnership reflects our shared commitment to driving sustainable growth, while reducing greenhouse gas emissions. Additionally, the partnership represents further progress in Origin's mission to enable the world's transition to sustainable materials."