Intertex signed an offtake agreement to purchase sustainable carbon-negative carbon black from Origin Materials for use in mechanical rubber goods markets, including automotive tires, belts, hoses, and rubber seals
WEST SACRAMENTO, Calif. & CANTON, Ohio–(BUSINESS WIRE)–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 Intertex World Resources, Inc. (“Intertex”), a leading value-added distributor of synthetic rubber, carbon black, process oils and rubber chemicals, today announced a strategic partnership to bring sustainable carbon-negative carbon black made using Origin Materials’ patented technology platform to the rubber compounding and plastic masterbatch industries.
As part of the partnership, Intertex signed an offtake agreement with Origin Materials to purchase sustainable carbon black. Origin’s carbon-negative carbon black, made from Origin’s HTC, is a versatile 100% bio-content filler and pigment produced from sustainable wood residues rather than petroleum, reducing carbon emissions and fossil resource consumption.
The partnership aims to produce carbon black for tires including N660, N550, and N762 specifications, as well as for belts, hoses, rubber seals, plastic extrusion, and all other mechanical rubber goods markets. Origin and Intertex will work to develop a carbon black for automotive seal customers requiring high performance carbon blacks for rubber window seals.
“We are thrilled to partner with Intertex, a strategic sourcing leader with three decades’ experience in product development and distribution,” said Origin Materials Co-CEO Rich Riley. “This collaboration is a significant step forward in our mission to enable the world’s transition to sustainable materials. We expect our sustainable carbon-negative carbon black to be deployed across a diverse array of applications to decarbonize the rubber and automotive supply chain.”
“We are excited to work with Origin Materials on sustainable carbon black and believe it is a great time to partner with this forward-looking company,” said Greg Sibley, Managing Partner for Intertex. “The world is looking for sustainable replacements for fossil-fuel based products, including carbon black, and we look forward to being at the front of this effort with Origin to bring those products to our valued customers. With our markets in tires, belts, hoses, and other mechanical rubber goods, all of which are looking for sustainable raw materials, we believe this partnership will allow us to give our customers a decided market advantage.”
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.
For more information, visit www.originmaterials.com.
About Intertex World Resources, Inc.
Founded in 1990, Intertex is a leading value-added distributor of synthetic rubber, carbon black, process oils, and other rubber chemicals. Intertex is a critical link in the supply chain providing all grades of materials to customers throughout North America. Intertex has satisfied its customers utilizing a strategy based on maximizing value for our customers in both price and product availability. Our close supplier relationships (most are over 25 years) are secured by our reputation as a consistent and reliable purchaser with a proven ability to service a broad spectrum of elastomers and carbon black through regional warehousing and packaging facilities. Our mission is simple, but very important to our customers, suppliers, management, and employees. We deliver quality products, competitively priced, to our customers on a just-in-time basis.
For more information, visit www.intertexworld.com.
Cautionary Note on Forward-Looking Statements
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, our ability to develop additional high-value products beyond our core CMF platform and ability to realize the anticipated benefits of the partnership discussed in the press release. 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; and those factors discussed in the Quarterly Report on Form 10-Q filed with the SEC on May 9, 2022 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.