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Origin Materials and Bachmann Group to Mass Produce PET Caps and Closures

Origin’s cap production lines, the first of which is expected to come online during Q4 2024, are designed to mass produce caps and closures made with virgin or recycled PET

Origin’s sustainable PET caps and closures enhance recycling circularity, enable "mono-material" containers, cap tethering, lighter packaging, and improved product shelf life

WEST SACRAMENTO, Calif. & HOCHDORF, Switzerland, May 29, 2024--(BUSINESS WIRE)--Origin Materials ("Origin") (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Bachmann Group ("Bachmann"), a leading packaging production and logistics company, announced a strategic partnership to mass produce PET caps and closures.

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In Bachmann’s existing world-class European manufacturing facilities, Bachmann and Origin will operate the lines to convert virgin and recycled PET into caps, including tethered caps, using high-speed equipment and automation. Origin’s caps are positioned to be the first commercially viable PET closures to reach the mass market.

"Today we are announcing our partnership with Bachmann Group, who will assist in the end-to-end operation and automation of our PET cap mass production lines," said Origin Co-CEO and Co-Founder John Bissell. "Bachmann Group will help us produce billions of caps, taking pellet or flake all the way to finished closures. We share a commitment to sustainability and look forward to a productive partnership."

Bissell added: "Bachmann Group, based in Switzerland, is a more than 50-year-old group of companies with deep expertise in logistics, quality assurance, and packaging production, including high-volume, sophisticated products like coffee capsules requiring high-precision manufacturing. They provide innovative technology services to some of the world’s leading food, beverage, and healthcare companies. We are thrilled with this partnership and look forward to bringing our sustainable PET caps and closures to the market starting later this year."

Reto Bachmann, CEO of Bachmann Group, stated, "This development represents a significant change for the industry, marking a sustainability breakthrough that emphasizes our commitment to environmental stewardship. Our innovative approach enhances product quality and aligns with our goal of reducing environmental impact, revolutionizing the industry's achievement in PET cap and closure production. This milestone showcases Bachmann Group's exceptional expertise as a leading manufacturing company committed to providing innovative solutions that adhere to the highest standards of quality and sustainability. In line with our commitment to sustainability, we are proud to operate our facilities on 100% renewable energy, ensuring our production processes are as environmentally friendly as our products."

Origin’s PET caps and closures are a transformative leap forward in packaging, improving recyclability including through cap tethering, enabling light-weighting, and extending product shelf-life while addressing a greater than $65 billion market. In conjunction with world-class partners like Bachmann Group, we are solving the most difficult sustainability challenges, in alignment with our core mission to help transition the world to sustainable materials.

Origin’s PCO 1881-compatible caps, which can be made with virgin or recycled PET, will be available beginning in Q4 2024, with PCO 1881-compatible tethered caps and other cap types to follow afterward. To learn more about Origin’s PET caps and closures, visit our website or contact commercialorder@originmaterials.com.

About Origin Materials
Origin is the world's leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials. Our innovative technologies include PET caps and closures that bring recycling circularity and enhanced performance to a ~$65 billion market, specialty materials, and our patented biomass conversion platform that transforms carbon into sustainable materials for a wide range of end products addressing a ~$1 trillion market. Origin’s 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 Bachmann Group
The Bachmann Group is a renowned Swiss company specializing in advanced plastic, aluminum, and fiber technologies. Based in Switzerland, the company has established a strong reputation for its innovative packaging solutions across the food, non-food, healthcare, and capsule sectors. Bachmann Group leverages state-of-the-art technology and a highly skilled team to offer customized solutions tailored to the specific needs of their clients. Their commitment to quality and sustainability ensures that they remain at the forefront of the industry. For more information, visit www.bachmann.ch.

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, performance improvements, when Origin’s PCO 1881-compatible caps will be available, estimated total addressable market and how much of that market Origin’s PET caps and closures will address. 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; the uncertainty of the projected financial information with respect to Origin; disruptions and other impacts to Origin’s business as a result of Russia’s military intervention in Ukraine, the impact of severe weather events, 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 U.S. Securities and Exchange Commission on May 14, 2024 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529232565/en/

Contacts

Origin Materials
Investors: ir@originmaterials.com
Media: media@originmaterials.com

Bachmann Group
Nino Gisler, Head of Sales
nino.gisler@bachmann.ch