Yahoo Finance Origin Materials Partners with PackSys Global on World’s First PET Cap and Closure Manufacturing System
Origin’s manufacturing system is expected to produce the first commercial-scale PET caps and closures
Origin’s sustainable PET caps and closures enhance recycling circularity, enable "mono-material" containers, lighter packaging, and improved product shelf life
WEST SACRAMENTO, Calif. USA and RÜTI, Switzerland, April 30, 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 PackSys Global AG ("PackSys Global"), the leading packaging machine producer for plastic closure slitting machines, announced a strategic cooperation to produce the world’s first PET cap and closure manufacturing system.
"Our high-throughput production system is the first of its kind, designed to do something nothing else can: make PET caps and closures at commercial scale," said Origin Co-CEO and Co-Founder John Bissell. "Our system will allow us to bring the recycling, sustainability, and performance benefits of our PET cap and closure solution to the world. We expect it will be the first of many such production lines for making not just beverage packaging better and fully recyclable, but containers of nearly every kind."
Bissell added: "We are happy to be building our production line with high-quality sub-systems from PackSys Global, a respected leader in packaging machines for the cosmetics, beverage, pharmaceutical, and packaging industries with facilities in North America, Europe, and Asia that has operated for over fifty years. PackSys Global is ideally positioned to contribute technology to the unique way we make high-quality caps and closures for multiple industries."
Ueli Kobel, Director of PackSys Global’s Slitting Division, noted: "PET closures can be a game changer for closure recycling. Most beverage closures are today made from HDPE and, while closure recycling rates are increasing, especially in Europe where closure tethering will be mandatory starting July 2024, a beverage container remains a two-material solution. HDPE suffers from degradation when re-used multiple times. Changing a closure to the same grade of PET as in the container avoids the need to separate the two materials and also solves the degradation topic at the same time."
Origin’s high-throughput production system will make the world’s first PET caps and closures at commercial scale. The solution is a transformative leap forward in packaging, designing for recycling circularity and improved performance. Origin’s solution improves recyclability, enables light-weighting, and can extend product shelf-life while addressing a greater than $65 billion market. In conjunction with world-class partners like PackSys Global, we are solving the most difficult sustainability challenges, in alignment with our core mission to help transition the world to sustainable materials.
Aitor Henao Soto, Head of Marketing & Communications at the Swiss company, stated, "We are proud to have partners like Origin who have entrusted us with their project, relying on our experience and expertise in engineering. The tests conducted at our technology center, KREALAB, were highly successful, and we are excited to showcase the results on May 9th at NPE2024 in Orlando in our booth alongside the Origin team."
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 all-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 PackSys Global
PackSys Global AG manufactures high-performance machines and complete lines for the production of extruded tubes and laminate tubes as well as slitting and folding machines for plastic closures. The company is the specialist for high-precision automatic hot stamping solutions for the packaging, cosmetics and automotive industries and the undisputed world market leader for machines for packaging unfilled laminate, plastic and aluminium tubes, aluminium aerosol cans, bottles and cartridges. Visit www.packsysglobal.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, expected increase in production lines, use of Origin Materials’ caps and closures solution on non-beverage containers, geographic expansion, performance improvements, and estimated total addressable market. 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 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 5, 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.
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Contacts
Origin Materials
Investors: ir@originmaterials.com
Media: media@originmaterials.com
PackSys Global
Aitor Henao Soto, Head of Marketing & Communications
E-Mail: aitor.henao@packsysglobal.com
