Origin Materials, Inc. and Kolon Industries, Inc. announced a strategic partnership to industrialize novel polymers and drop-in solutions for select applications, with an initial focus on automotive applications. This strategic partnership aims to rapidly develop and industrialize new sustainable carbon-negative products based on Origin Materials' patented technology platform, leveraging Kolon's polymerization expertise, application development and supply chain strength. As part of the partnership, Kolon signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin Materials.

The partnership includes co-development aimed at commercializing polyethylene furanoate, a polymer with an attractive combination of performance characteristics for packaging and other applications, including enhanced barrier properties when compared with polyethylene terephthalate, degradability, and other qualities. Origin Materials' technology platform is expected to produce cost-competitive, sustainable, carbon-negative furandicarboxylic acid, the primary precursor to PEF. Kolon Industries' deep polymer expertise in novel FDCA-based polymers, including PEF, is expected to introduce world-class carbon-negative polymers and chemistries.

Origin Materials and Kolon believe that Origin's platform, together with Kolon's demonstrated expertise in polymer chemistry, manufacturing and application development, can accelerate the deployment of environmentally sustainable products and create profitable, competitively advantaged business opportunities for both companies.