Origin Materials will work with the industrial materials company of Hyosung – Hyosung Advanced Materials – on the initiative.
As part of the partnership, Hyosung Advanced Materials signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin Materials, including PET and a hybrid polymer PET/F (a blend of PET and FDCA) for use in spandex applications in the apparel industry, amongst others.
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The partnership will leverage Origin’s patented technology platform, which can turn the carbon found in sustainable wood residues into useful materials while capturing carbon in the process.
The materials will support Hyosung Advanced Materials’ broader sustainability effort to address climate change with a focus on carbon neutrality and eco-friendly business sectors. In 2020, Hyosung Advanced Materials garnered a grade of “A” in recognition of its efforts in climate change from the CDP (Carbon Disclosure Project) and won the status of Honors Club in carbon management at the ceremony presenting the CDP Climate Change Korea Award.
“Partnering with Hyosung Advanced Materials is a significant milestone in our mission to transition the world to sustainable materials,” said Origin Materials co-CEO Rich Riley. “The opportunity for working together is remarkably broad, and we are excited to develop high-value products for use in a wide range of end markets and applications including batteries, automotive, and apparel. Together, we can expand the adoption of Origin’s technology and help drive the ‘once in a planet’ shift to sustainable materials taking place around the world.”
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Young Joon Lee, vice president at Hyosung, added: “We are excited to be a partner with Origin Materials to take this pathway together to Net Zero through this innovative technology development and commercialization effort. Sustainability is at the heart of Hyosung’s growth strategy and we firmly believe that our strong partnership will take both of us to the forefront of industry leadership in the renewable materials space.”
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