Intertex has signed a purchase agreement to purchase carbon negative durable carbon black from Origin Materials for use in mechanical rubber product markets, including automotive tires, belts, hoses and gaskets. rubber
WEST SACRAMENTO, Calif. & CANTON, Ohio, July 25, 2022–(BUSINESS WIRE)–Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the global leader in carbon negative materials whose mission is to enable the global transition to sustainable materials, and Intertex World Resources, Inc. (“Intertex”), a leading value-added distributor of synthetic rubber, carbon black, processing oils and rubber chemicals, today announced a strategic partnership to deliver durable, carbon-negative carbon black made using Origin Materials patented technology platform for the rubber compounding and plastic masterbatch industries.
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As part of this partnership, Intertex has 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. carbon and the consumption of fossil resources.
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 product markets in rubber. Origin and Intertex will work to develop a carbon black for automotive gasket customers requiring high performance carbon blacks for rubber window gaskets.
“We are delighted to partner with Intertex, a leader in strategic sourcing with three decades of experience in product development and distribution,” said Rich Riley, co-CEO of Origin Materials. “This collaboration is a significant step forward in our mission to enable the global transition to sustainable materials. We expect our sustainable carbon negative carbon black to be deployed in a wide range of applications to decarbonize the rubber and automotive supply chain.
“We are excited to be working with Origin Materials on Sustainable Carbon Black and believe this is the perfect time to partner with this forward-looking company,” said Greg Sibley, Managing Partner of Intertex. “The world is looking for sustainable substitutes for fossil fuel-based products, including carbon black, and we look forward to being at the forefront of this effort with Origin to bring these products to our valued customers. our markets for tires, belts, hoses and other mechanical rubber products, all of which seek sustainable raw materials, we believe that this partnership will allow us to give our customers a decisive advantage in the market.”
About original materials
Based in West Sacramento, Origin Materials is the global leader in carbon negative materials. Origin’s mission is to enable the global transition to sustainable materials. For more than a decade, Origin has developed a platform to turn the carbon in inexpensive, abundant, non-food biomass, like 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 apparel, textiles, plastics, packaging, auto parts, tires, carpets, toys, etc., with an addressable market of approximately $1 trillion. Additionally, Origin’s technology platform is expected to provide stable pricing largely decoupled from the oil supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented core technology, economy 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, processing oils and other rubber chemicals. Intertex is a vital link in the supply chain providing all grades of materials to customers across North America. Intertex has satisfied its customers using a strategy based on maximizing value for our customers in terms of price and product availability. Our close relationships with our suppliers (most are over 25 years old) are backed by our reputation as a consistent and reliable buyer with a proven ability to service a wide range of elastomers and carbon black through regional facilities of warehousing and packaging. Our mission is simple, but very important to our customers, our suppliers, our management and our employees. We deliver quality products to our customers, at competitive prices, just in time.
For more information, visit www.intertexworld.com.
Caution Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, ” should”, “should”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospect” and similar expressions which predict or indicate future events or trends or which are not 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 our 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 the current expectations of Origin Materials’ management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to be relied upon and should not be relied upon as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many real 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 not be able to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts on Origin Materials’ business due to the COVID-19 pandemic and other global health or economic crises; changes in customer demand; and the 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 that Origin Materials has filed or will file with the SEC. If one of these risks materializes, or if 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 is not currently aware of, or that Origin Materials currently believes are not material, 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 regarding future events and its 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 choose to update these forward-looking statements at some point in the future, Origin Materials expressly disclaims any obligation to do so. These forward-looking statements should not be construed as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.
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