LVMH has signed a multi-year capacity reservation agreement for the purchase of sustainable carbon negative materials from Origin Materials
WEST SACRAMENTO, CA & PARIS, April 19, 2022–(BUSINESS WIRE)–Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the global leader in carbon negative materials, and LVMH Beauty, a division of LVMH Moët Hennessy Louis Vuitton, a global leader in luxury goods, today announced a strategic partnership to develop sustainable, low-carbon packaging for the fragrance and cosmetics industry.
As part of this strategic partnership, LVMH has signed a multi-year capacity reservation agreement with Origin Materials for the purchase of sustainable, carbon-negative PET (polyethylene terephthalate) for the packaging of perfumes and cosmetics.
PET produced using Origin technology is functionally identical to petroleum-based PET, but with a significantly lower carbon footprint since it is made from sustainable wood residues that capture carbon. Additionally, Origin PET is also recyclable into fossil-based PET within existing infrastructure, which is key to creating a circular economy with a significantly reduced carbon footprint.
Origin aims to continue working with LVMH Beauty on sustainable packaging solutions across its family of renowned brands, which includes Parfums Christian Dior, Parfums Givenchy, Guerlain and others. Origin’s technology can help LVMH Beauty Houses reduce the carbon impact of their products while maintaining the high-end aesthetics and uncompromising performance that luxury customers expect.
“At LVMH, with our Life 360 program, we have taken the decision that our packaging will not contain any plastic from virgin fossil resources in the near future. Origin’s bioplastics technologies play a crucial role in helping LVMH achieve its sustainability goals without compromising on quality. . LVMH Beauty is pleased to collaborate with Origin, supporting innovative technologies,” said Claude Martinez, Executive Chairman and CEO of LVMH Beauty.
“LVMH is a powerhouse of luxury brands, with a high level of excellence for the environmental performance of its products,” said Rich Riley, co-CEO of Origin Materials. “Our mission to enable the global transition to sustainable materials as quickly as possible is perfectly aligned with LVMH’s ambitious environmental initiatives. We look forward to helping LVMH reduce its carbon footprint and achieve its sustainability goals while continuing to deliver superior product experiences to its customers. “
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 cheap, 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. In addition, Origin’s technology platform is expected to provide stable prices 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 LVMH Beauty
LVMH Beauty is the Perfumes & Cosmetics division of the LVMH group, a major player in the perfume, make-up and skincare markets, which brings together historic Maisons as well as younger Maisons with strong potential: Parfums Christian Dior, Givenchy Parfums, Guerlain, Fresh , Acqua Di Parma, Benefit Cosmetics, Kenzo Parfums, Make Up For Ever, Officine Universelle Buly, Fenty beauty by Rihanna, Bite Beauty, Ole Henriksen, Marc Jacobs beauty, Maison Francis Kurkdjian, Cha Ling, KVD Vegan beauty, Parfums Loewe. All are driven by the same values: the search for excellence, creativity, innovation and perfect control of their image.
For more information, visit www.LVMH.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 and the estimated total addressable market. 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 actual events and circumstances are beyond Origin Materials’ control. 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 Annual Report on Form 10-K filed with the SEC on March 1, 2022 under the heading “Risk Factors” and in 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 to be 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 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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