![]() We’re definitely feeling enormous support.”Īll development and production to date has been in laboratories and pilot plants. Other alternative materials require changes to all of that. It provides them with a carbon-negative version of their existing materials, with no changes needed to their tooling or production processes. ![]() “They all have goals for the 2030s and 2040s, and our plan is an incredible market fit. ![]() “Our commitment is to help companies get to net zero and meet their emissions goals,” Riley explained. That’s all a potential big win for Origin’s customers. Origin hold 19 patents for its proprietary process. The PET end product is chemically identical to PET made from fossil fuels, and has been independently tested and certified. Those chemicals are then combined to produce plant-based zero-carbon high-functioning materials including 100% recyclable PET, activated carbon for water filters, carbon black, toners and other materials with broad applications. The Origin platform converts C-6 cellulose, an organic compound consisting of oxygen, carbon and hydrogen that’s extracted from the wood, into two primary building-block chemicals, chloromethyl furfural (CMF) and hydrothermal carbon (HTC). The carbon negativity of the final product also starts here, as forests are one of nature’s best carbon sinks. The technology starts with trees (“woody biomass”)–preferably sustainably harvested wood, but the process can also use agricultural waste and even old cardboard. It doesn’t matter if we can get from this to that if it’s not cost-effective.”Ĭhina Billionaire’s Fosun Sells Stake In Diamond Concern To Blackstone For $455 Million That’s driven what kind of process we use and what kind of materials we make. Our North Star is to compete with existing materials, with no subsidies. Every minute he spends not on the chemistry is wasted, which is why I’m here. This is a once-in-planet transition, and John is the Elon Musk of chemistry. Now we have $3.5 billion in orders and are aggressively pursuing a $1 trillion TAM. “I joined last year, when customer demand and the technology were where the needed to be. “I invested in the Series A at Origin,” he said. It was sold to Yahoo, and Riley subsequently served in a variety of executive roles at Yahoo, as CEO of Shazam Entertainment, as Industry Advisor at KKR & Co., Inc., and as Chairman of the Board and Investor at JourneyPure, a private health care network treating substance abusers. Rich Riley, the other co-CEO, invented the browser toolbar now used by hundreds of millions of people around the globe in the late 1990s.
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