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ORIGIN Origin Materials , Inc. Reports Financial Results for Second Quarter 2021 August 12 , 2021 - Successfully Completed Public Listing in June , Resulting in Cash and Cash Equivalent Balance of $ 471 million - - Reaffirming Origin 1 and 2 Capital Budget , Production Timeline and Financing - - Increased Contracted Offtake Agreements and Capacity Reservations to $ 3.5 billion - WEST SACRAMENTO , Calif .-- ( BUSINESS WIRE ) -- Aug . 12 , 2021-- Origin Materials , Inc. ( " Origin , " " Origin Materials , " or the " Company " ) ( Nasdaq : ORGN , ORGNW ) , the world's leading carbon negative materials company with a mission to enable the world's transition to sustainable materials , today announced financial results for its second quarter ended June 30 , 2021 . " I am incredibly proud of what the Origin team has accomplished so far in 2021 , continuing our mission to enable the world's transition to sustainable materials . We have taken significant steps to commercialize the business by broadening our customer base beyond CPG into apparel , automotive and industrial end - markets , while also substantially increasing customer demand , strengthening the leadership team , and making significant capital available to the business through the combination of Artius Acquisition , Inc. with Origin . Importantly , we remain on track for the start of production for Origin 1 and Origin 2 , " said Rich Riley , Co - Chief Executive Officer of Origin . Mr. Riley added , " Since announcing the business combination with Artius in February , we have more than tripled our commitments from our customers and partners . On the operational side , we have made steady progress against project milestones for Origin 1 and 2 and are pleased to reaffirm our capital budget and our expectation that we will be able to fully fund the construction of both plants using funds from our own balance sheet and previously indicated traditional project financing sources on our stated timelines . We do not anticipate any additional equity capital will be required to finance our current business plan . We continue to expect the construction of Origin 1 will be completed by the end of 2022 and Origin 2 will be completed by the middle of 2025. " Key Company Highlights Origin Materials has increased signed offtake agreements and capacity reservations to $ 3.5 billion from $ 1 billion in February . The Company also implemented the following new and expanded partnerships and customer relationships : • Launched Net Zero Automotive program with Ford Motor Company ( NYSE : F ) focused on industrializing new materials to drive decarbonization in the automotive industry . ● Partnership with Mitsubishi Gas Chemical to industrialize advanced carbon negative chemicals and materials for applications in the automotive , medical , food , information and communication , energy , and infrastructure sectors . • Partnership with Solvay to develop advanced carbon negative materials for the automotive industry . • Strategic alliance with PrimaLoftto develop carbon negative insulating fiber for outdoor gear , bedding and apparel . PrimaLoft's iconic brand partners include Patagonia , Stone Island , L.L. Bean , Lululemon , adidas and Nike . • Partnership with Packaging Mattersto advance carbon negative packaging solutions , building on an existing 10 - year supply agreement . • Partnership with AECI Much Asphalt to develop low - carbon asphalt . • Partnership with AECI Sans Technical Fiberto develop carbon negative materials for apparel and automotive applications . • Strategic alliance with Palantir Technologies ( NYSE : PLTR ) to accelerate the world's transition to net zero carbon with a focus on decarbonizing the global materials supply chain . Origin 1 and Origin 2 Financing and Construction Update As part of our ongoing project construction review , including construction costs and timeline to account for the recent increase in inflation and supply chain disruption , the Company reaffirms the capital budget for the construction of Origin 1 and Origin 2 , and is confirming its previously disclosed start of production timelines . Based on preliminary feedback from leading financial institutions that have expertise in financing similarly sized capital projects , the Company reaffirms its expectations that the capital projects for Origin 1 and Origin 2 can be fully funded from its existing cash on hand and previously indicated traditional project financing sources . Origin has selected Worley , one of the world's leading engineering organizations as its engineering partner for both Origin 1 and front - end engineering partner for Origin 2 . The Company continues to expect the construction of Origin 1 to be completed before the end of 2022 , with commissioning and production at the plant beginning immediately thereafter . Origin is pleased to be working with leading capital projects partners Koch Modular Process Systems , Worley , KSH Solutions , and Jacobs Engineering Group . As of June 30 , 2021 , installation of most foundations for building and process areas was significantly underway and on track for timely Origin 1 mechanical completion . In addition , Origin had also completed fabrication of the modules that contain all the equipment used for the conversion of biomass feedstock into high value chemicals . By the end of 2021 , Origin expects the modules to be lifted and erected , roughly four months ahead of schedule .