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February 21, 2022updated 22 Feb 2022 9:53pm

Origin Materials plans “world-scale” facility for carbon-negative PET

Carbon negative materials company Origin Materials has selected a site in Louisiana for the construction of its first world-scale manufacturing facility, Origin 2.

By Fi Forrest

Subject to finalisation of economic incentives, the site would produce carbon-negative materials used to make polyethylene terephthalate (PET) plastic, which is used in apparel, textiles, packaging, and other applications, as well as hydrothermal carbon, which can be used in fuel pellets, as activated carbon, and as a replacement for carbon black.

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Origin says its patented technology platform can turn the carbon found in sustainable wood residues into useful materials while capturing carbon in the process.

Based out of West Sacramento, Origin Materials, Inc. has announced plans for the construction of its first world-scale manufacturing facility – Origin 2 – in Geismar, Louisiana. 

The 150-acre facility would create an estimated 500 construction jobs, 200 local full-time positions, and between 500 and 1,000 indirect local jobs. The plant would convert an estimated 1m dry metric tonnes of wood residues each year into products for a wide range of end markets. It is expected to be operational mid-2025.

The pending state and local incentives are estimated to be worth more than US$100m. In addition, a Private Activity Bond volume cap allocation from the State of Louisiana, pending finalisation, is expected in the amount of at least $400m. Private Activity Bonds are tax-exempt bonds authorised by state and local governments for the financing of qualified projects with private capital.

“The demand for ‘net zero’-enabling materials is extremely strong, and we believe this plant will be instrumental in addressing demand for our products in the United States and internationally,” John Bissell, co-CEO of Origin, says.

Louisiana Governor John Bel Edwards, adds: “I welcome Origin Materials’ plans for a new facility in Louisiana. Their unique process of developing PET products from renewable wood fibres is yet another example of how the global shift toward sustainability can be a catalyst for economic investment and job creation in our state. The company’s carbon-negative mission aligns with our Climate Action Plan’s approach to limiting the severity of climate change while maintaining economic competitiveness in a low-carbon future.”

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What is driving growth in the Global Luxury Apparel Market?

The global luxury apparel market has seen exceptional recovery since 2021, after the inevitable sales decline in 2020 due to the pandemic. This growth has largely been due to strong demand in the key market of APAC, with the lifting of restrictions leading consumers to spend more on luxury goods for events such as holidays and social occasions. This growth is only expected to continue, and GlobalData’s free report Global Luxury Apparel Market Trends, Size and Forecasts out to 2025, can assist companies in understanding the drivers behind this growth, as well as potential inhibitors and key trends affecting the market. Understanding these crucial elements will be essential for luxury brands and retailers to stay ahead of their competitors. This report provides comprehensive analysis of:
  • Luxury apparel market size at total, regional, and category level – with forecasts out to 2025
  • Market drivers and inhibitors
  • Retailer and brand market shares, 2019-2021
  • Hot issues and profiles of leading brands
  • Key trends affecting the global luxury apparel market
Read this report now if you want to maximize growth using in-depth market predictions.
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