Origin Materials realigns resources to boost caps and closures business [Yahoo! Finance]
Origin Materials, Inc. - Class A (ORGN)
US:NASDAQ Investor Relations:
origenfinancial.com
Company Research
Source: Yahoo! Finance
The company is shifting resources towards its caps and closures business, which is seeing a surge in demand. This move is expected to reduce overall cash burn and accelerate production capacity to meet the growing needs for polyethylene terephthalate (PET) caps projected for 2025 and 2026. Origin Materials co-founder and co-CEO John Bissell said: “As near-term demand for Origin's PET caps continues to increase, potentially exceeding our currently planned manufacturing capacity for 2025 and 2026, we are proactively reallocating resources to our caps and closures business.” Origin has secured a memorandum of understanding with its first formal caps customer for billions of caps, representing more than $100m over an initial two-year period. “Today, we are positioned to bring the world's first PET cap solution to a $65bn market with attractive margins,” Bissell added. The strategic shift involves operating Origin 1, the company's biomass conversion plant in Ontario, Canada, on
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News
- Origin Materials Announces Organizational Streamlining to Further Support Caps and Closures BusinessBusiness Wire
- Origin Materials launches PET caps manufacturing system [Yahoo! Finance]Yahoo! Finance
- Origin Materials Unveils CapFormer System, Completes Factory Acceptance Test of World’s First Commercial-Scale Manufacturing System for PET CapsBusiness Wire
- Origin Materials, Inc. (ORGN): A Hot Penny Stock On The Move [Yahoo! Finance]Yahoo! Finance
- Global Market for Bio-based Packaging 2025-2035: Focus on Circular Packaging Solutions Includes Efforts to Develop Monomaterial Packaging and Improve the End-of-Life Management of Biobased Materials [Yahoo! Finance]Yahoo! Finance
ORGN
Earnings
- 8/14/24 - Miss
ORGN
Sec Filings
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- ORGN's page on the SEC website