Origin Materials, Inc., a global pioneer in carbon-negative materials dedicated to facilitating the world's shift toward sustainable materials, has joined forces with Sustainea Bioglycols ("Sustainea"), a collaborative venture between Braskem (NYSE: BAK) and Sojitz Corporation. This strategic partnership is centered on the utilization of advanced bio-based materials produced through Origin's cutting-edge technology platform and Sustainea's expertise in bio-based glycol products.

Under this collaboration, Sustainea has entered into two multi-year capacity reservation agreements to procure renewable chemicals from Origin Materials, encompassing bio-based PTA and bio-based FDCA. PTA, a critical feedstock for a diverse array of applications such as PET polyester packaging, textiles, plastics, automotive components, tires, toys, and carpeting, holds central importance. Similarly, FDCA, a foundational raw material, finds utility in surfactants, epoxy resins, and the cutting-edge polymer PEF (polyethylene furanoate).

Rich Riley, Co-CEO of Origin Materials, expressed enthusiasm for the partnership with Sustainea, a venture united by the innovation of two global leaders: Braskem, the foremost thermoplastic resin producer in the Americas and a vanguard in biopolymers, and Sojitz, a Japan-focused worldwide trading enterprise with extensive market networks and a robust presence in Asia. Riley stated, "Our alignment with Sustainea, Braskem, and Sojitz positions us to spearhead global leadership in bioMEG production. Given that bioMEG and bio-PTA are vital components for producing 100% bio-based PET, our collective efforts are squarely aimed at shaping a low-carbon trajectory for polymers, including bio-PET and advanced bio-based polymers incorporating FDCA. This potent strategic partnership positions us at the forefront of renewable materials innovation."

Leveraging its patented technology platform, Origin Materials plans to manufacture bio-based FDCA and bio-based PTA. This innovative process harnesses the carbon content present in sustainable wood residues, transforming them into valuable products while simultaneously capturing carbon.

Gustavo Sergi, CEO of Sustainea, conveyed his enthusiasm, highlighting their shared commitment to a low-carbon future. He emphasized, "Our aspiration has always been to introduce bioMEG and bioPET to the market, and the collaboration with Origin represents a significant stride toward realizing this objective. With the polyester and PET markets expanding by 3.5 million tons annually, our mission is to swiftly develop our operations to cater to industry demands. From textiles to bottles, our bioMEG and bioPET solutions will be readily embraced by the market as seamless alternatives. Furthermore, these biopolymers not only adhere to bio-based principles but are also fully recyclable, contributing to a circular economy and a reduction in CO2 emissions."

 

Source: businesswire.com

Report Abuse