Thank you for standing by. This is the conference operator. Welcome to the Origin Materials second quarter 2021 earnings call. As a reminder, all participants are in listen only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Ashish Gupta, Investor Relations. Please go ahead. Thank you, and welcome, everyone, to Origin Materials' second quarter 2021 earnings conference call. Joining the call today from Origin Materials are Co-CEO Rich Riley, Co-CEO and Co-Founder John Bissell, and CFO Nate Whaley. Ahead of this call, Origin issued its second quarter press release and presentation, which we will refer to today. These can be found on the investor relations section of our website at originmaterials.com. Please note that on this call, we'll be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect our views only as of today, should not be relied upon as representative about views as of any subsequent date, and we undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our quarterly report and Form 10-Q. In addition, during today's call, we will discuss non-GAAP financial measures, which we believe are useful as supplemental measures of Origin Materials' performance. These non-GAAP measures should be considered in addition to, and not as a substitute for, or in isolation from GAAP results. You'll find additional disclosures regarding the non-GAAP financial measures discussed on today's call in our press release issued this afternoon and our filings with the SEC, each of which is posted on our website. The webcast of this call will also be available on the investor relations section of our company website. With that, I will turn the call over to Rich. Thank you, Ashish, and thanks to everyone for joining us today. For today's presentation, we'll be referring to the slides that were posted to the i nvestor relations section of our website earlier this afternoon. We will begin on slide three. The second quarter of 2021 was momentous for Origin. First, as previously announced, we successfully completed the business combination in June, and as at the end of the second quarter, have $471 million in cash and equivalents on hand. Second, we made significant progress on our first commercial scale plants, Origin 1 and Origin 2, and are reaffirming our expectations as to capital budget, production timeline, and our anticipated ability to fully fund both projects from existing cash on hand and previously identified traditional financing sources. Third, our customer demand has more than tripled over the past six months with offtake and capacity reservations of $3.5 billion as of today. As this is our first earnings call, I'll start with an overview of Origin Materials and then provide a commercial update. I will then turn it over to John, who will discuss Origin's intellectual property, core technology, updates on Origin 1 and Origin 2, and recent executive hires. Nate will wrap up with a financial overview. Origin was founded in 2008 with a mission to help solve climate change by enabling the world's transition to sustainable materials. Our patented drop-in core technology, economics, and carbon impact have gained the support of a growing list of major global brands and investors, including PepsiCo, Nestlé, Danone, Ford, and Mitsubishi Gas Chemical. The CPG companies mentioned have publicly disclosed their intent to migrate 100% of their current petroleum-based PET consumption to decarbonized and recycled materials. After extensively testing our technology, these market leaders have made significant financial contributions to Origin, both as investors and customers, demonstrating their environmental commitment and confidence in our technology. We believe Origin is positioned to be an industry disruptor in the materials space at large commercial scale. Unlike other companies who serve smaller niche markets, we believe Origin is structurally advantaged to address an estimated trillion-dollar market that's just beginning to transition from petroleum feedstocks to sustainable ones. That we're positioned to be the clear category leader based on the simple yet powerful fact that our technology was built around converting the lowest cost feedstock, wood residue, into decarbonized supply chain- ready materials. While the big focus of the decarbonization movement among the media and investors has been electric vehicles and renewable energy, 45% of the world's emissions come from the manufacturing of products, with a significant portion coming from underlying chemical materials. Over 10 million barrels of oil per day are used to create these materials, and the production process releases massive quantities of new carbon into the atmosphere. Origin's vision for the future is to replace these 10 million+ barrels per day with plant-based feedstocks. We think the best place to start the transition to sustainable plant-based materials is plastics, which represent an enormous and rapidly growing portion of the world's materials. When we say plastics, we're not just talking about water bottles and other consumer packaging that probably first comes to mind. The majority of plastics are used in textiles, cars, and other household products. Just capturing a small portion of the incremental annual growth in plastics is more than enough demand to build our business. Importantly, our solution is designed not to require companies to change their products or processes. There are near zero switching costs because we produce a material identical to what they currently use. The only difference is that our feedstock is derived from plants rather than petroleum. We think this is the path for us to deliver carbon-negative materials at massive scale, dramatically reduce carbon emissions, and create products that are readily recyclable within the existing global infrastructure. Turning to slide four, the attractiveness of our solution is what drove the early partnership and anchor investment from Danone, Nestlé, and PepsiCo. Recently, we have also taken significant steps to commercialize the business by broadening our customer base beyond consumer packaged goods into apparel and industrial end markets, including automotive. In April, we announced a strategic partnership with PrimaLoft to develop carbon-negative insulating fiber for outdoor gear bedded in apparel. PrimaLoft makes high-performance insulation and fabric for over 900 global brands, including iconic companies such as Patagonia, lululemon, adidas, and Nike. This is a very significant partnership for us, an example of being able to partner with a company in the supply chain to deliver materials to hundreds of brands. Many apparel companies are eager to decarbonize, but they don't actually manufacture their own products. This is where our partnership with PrimaLoft can have a huge impact. During the second quarter, we also announced the Net Zero Automotive Program with Ford Motor Company. Ford and other automakers have committed to electrifying a significant portion of global production, providing a tailwind for Origin. Because plastic helps make cars lighter and more energy efficient. EVs are estimated to use three times the amount of plastic per vehicle as internal combustion vehicles. Our Net Zero Automotive Program with Ford is a tremendous opportunity for Origin to work with an industry leader to decarbonize a very large addressable market. Our partnerships with Ford and PrimaLoft demonstrate the steps we have taken to further commercialize the business and expand our end markets. Notably, corporate commitments to net zero are increasing daily, and Origin is engaged with many of the world's largest companies to help them achieve their decarbonization and sustainability goals. In addition to exciting customer and partnership announcements, we also announced last week that our CMF and HTC products have earned the U.S. Department of Agriculture Certified Bio-Based Product label. This is a coveted third-party verification that our products meet or exceed the bio-based content requirement for the U.S. government. This certification qualifies our products for mandatory federal purchasing under the 2002 and reauthorized 2018 Farm Bill. With that, I would like to turn it over to John for a technology overview and an update on Origin 1 and Origin 2. Thanks. I'm going to begin on slide five. As Rich mentioned, Origin's technology platform uses proven traditional chemistry to convert carbon-negative feedstocks like wood residues, post-consumer cardboard, mixed paper waste, and construction waste into two principal intermediate chemicals, CMF and HTC. These chemical intermediates will be used to make materials like PET that currently use petroleum as a feedstock and energy source in their manufacture. Moving to slide six, what separates Origin from niche biomaterials companies is our proprietary CMF and HTC production processes, which are based on sound, scalable, carbon-efficient technology. The process to convert biomass is very carbon- efficient. The vast majority of the carbon ends up as one of our products. This is in stark contrast to thermochemical processes such as gasification or pyrolysis and fermentation processes, which nearly invariably lose a substantial proportion of the carbon and feedstock to emissions. This carbon efficiency contributes both to the extraordinarily competitive economics of our process and to the very low carbon intensity of the process. While biologically mediated processes are often hindered by any variation in feedstock, our homogeneous chemocatalytic process is robust to a huge range of variation. Similarly, components of the feedstocks that are non-volatile, such as salts, can be showstoppers for thermochemical processes, but they are largely immaterial to the performance of our process. The flexible nature of our chemistry enables many different feedstocks to be used. Sawmill and pulp mill residues, construction waste, agricultural waste, post-consumer paper packaging, pulpwood, and mixed paper waste. That feedstock flexibility directly contributes to the low cost and carbon impact of our products. Finally, turning to slide seven, our process is constructed entirely of conventional physical and mechanical processes that have been used in countless chemical processes for centuries. While the chemistry is new, the process physics are analogous to many processes that have been in widespread operation for generations, kraft pulping among them. The use of conventional processes makes the technical scaling much more predictable and much lower risk, as despite the vast number of chemical processes in operation that supply the physical goods of civilization, there are very few examples of unsuccessful scaling for technical reasons. Since founding the company in 2008, Origin has made substantial improvements on the technology through continuous innovation and licensing agreements. Today, we hold 19 families of patents protecting our proprietary production processes to make CMF, HTC, and their downstream products. We believe this IP provides a defensive mode around our technology. Now on to slide eight. I will turn to our progress on Origin 1 and Origin 2. We are, of course, continually reviewing construction costs and timelines to assess macroeconomic perturbations such as inflation and supply chain disruption. We are pleased to reaffirm our previously disclosed expected capital budget and production timelines for Origin 1 and Origin 2. In terms of timing, we expect the construction of Origin 1 to be completed before the end of 2022, with commissioning and production at the plant thereafter. We're pleased to be working with the leading capital products partners, Koch Modular Process Systems, Worley, KSH, and Jacobs. As of June 30, 2021, installation of most foundations for building and process areas is significantly underway and on track for timely Origin 1 mechanical completion. We'd also completed fabrication of the modules that contain the principal equipment used for the conversion of biomass feedstock into high-value chemicals. By the end of 2021, we expect the modules to be lifted and erected roughly four months ahead of schedule. Similarly, Origin 2 remains on track for completion by mid-2025. Further, we are working with Worley, Deloitte, and Fisher International to select the site for Origin 2, which we expect to have designated by the end of 2021, in line with our prior forecast. Turning to slide nine, we thought it would be useful to provide more of the story behind Origin 1. How did it start? What do the modules look like? What will it look like? You can see here the modules themselves. They're large, 60-75 tons each. The modules are on-site in Sarnia, Ontario. Ultimately, they will be interconnected and erected. With slide 10, I'd like to provide additional background on how we got to where we are today. We spent over 10 years developing and proving out this process at bench and pilot scale. That translated to process design and engineering, which in turn translated to these designs being fabricated in shop. An advantage of doing modular construction is that it offers better control over environmental conditions and, therefore a more predictable schedule. Additionally, modular construction also gives you better control over the quality of the work. Here on slide 10, you can see our CTO, Ryan Smith, next to a vessel head in a module while it was in the shop. Now with slide 11, we see that those modules were transported to our site in Sarnia, Ontario, Canada. Those modules will be erected onto the anchor bolts in the foundation. Other pieces of equipment, such as tanks, are also delivered on site. We've labeled a 3D model that you've seen before. You can see the conveyor that moves the feedstock to the system, the feedstock silo, the ISBL, or inside battery limits equipment, which is where the real chemistry happens. You can see the process building where the solids handling happens for HTC. You can see more general items like the tank farm and an area for trucks to load and unload liquid materials. You can see the brine generation area where we handle some of our aqueous streams. While there's work to be done other than the core process module that's already fabricated on site, that work is generally routine and isn't particularly specific to our technology. Lastly, moving to slide 15, I'd like to talk to you about our efforts to strengthen Origin's leadership team. We were excited to welcome Jim Wells, Ben Freireich, and Madhu Anand, who will play an instrumental role in scaling our platform technology. Jim has an incredible background. He's an extremely experienced engineer and was instrumental in the execution of capital projects while at Hyperscience. Madhu Anand brings extraordinary engineering, catalytic, and processing expertise to Origin from Phillips 66, where she was the chief engineer of the hydroprocessing and naphtha upgrading unit. Ben Freireich is a leading industry expert in solid particulate materials for both product and process R&D and joined us from PSRI, where he led applied process research efforts for a consortium of over 30 multinational corporations. We're excited he will be bringing that expertise to Origin. Recently, we further strengthened our team with the addition of Bob Nissen, the Origin 2 Project Director, who has a background with BP and Jacobs, as well as David Ballow, Origin 2 Process Technology Director, who brings with him experience from Worley and Burns & McDonnell. We're happy to welcome both of them on board. I look forward to their contributions for years to come. With that, I will turn it over to Nate to discuss some financial details. Thank you, John. I'll begin with some commentary on our second quarter results, provide a financing update for Origin 2, then finish with our 2021 outlook. Speaking to slide 16, second- quarter operating expenses were $6.7 million, compared to $1.7 million during the same period in the prior year. Adjusted EBITDA loss was $3 million for the second quarter compared to a loss of $1.6 million in the prior period. Finally, net income was $62.5 million for the second quarter compared to a net loss of $1.7 million in the same period in the prior year. As of June 30, 2021, Origin had 136.7 million shares outstanding, excluding 4.5 million shares held by certain stockholders that are subject to forfeiture based on share price performance targets applicable to earn- out shares. Turning to our balance sheet. As a result of successful business combination with Artius, Origin ended the second quarter with $471 million in cash and cash equivalents. Based on preliminary feedback from leading financial institutions that specialize in financing similarly sized capital projects, which indicated that our financing assumptions are reasonable and executable, we are able to reaffirm our expectation of fully funding the construction of both plants using our existing balance sheet, cash and cash equivalents, and previously indicated traditional financing sources. Upon completion of Origin 1 and Origin 2, we expect to begin generating positive EBITDA and anticipate our business will generate sufficient cash to allow us to build Origin 3 and beyond. We do not anticipate needing to raise additional equity capital to fund our current business or capital project needs. We would note that we anticipate having approximately $100 million of excess cash beyond the capital budget of Origin 1 and Origin 2. As John mentioned earlier, we have received many questions on inflationary pressures. We are continually updating our cost estimates in real time and based on current inputs we've received from vendors and suppliers. I'm pleased to report projected construction costs are still within the overall capital budget. Wrapping up with our full year 2021 outlook, we are expecting adjusted EBITDA loss of up to $25 million and capital expenditures of up to $111 million, consistent with our previous outlook. With that, I will turn it back to Rich for closing remarks. Thank you, Nate. I would like to wrap up with three simple reasons that we are so excited about where Origin is today and what its future holds. First, we are the industry disruptor with a clear line of sight to commercial scale and the category leader in carbon- negative materials. Second, demand is very strong, and we think Origin will be supply- constrained for the foreseeable future. Third, our financing is on track or ahead of schedule to bring Origin 1 and Origin 2 online and begin production. Thank you for your time today. We'll open up the line for questions. Thank you. We will now begin the question and answer session. To join the question queue, you may press star then one on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star then two. We will pause for a moment as callers join the queue. Our first question comes from Frank Mitsch of Fermium Research. Please go ahead. Hey guys, it's Aziza on for Frank. The first question, on slide four, you lay out the growth in offtake agreements and capacity reservations, which has now reached $3.5 billion. How are you guys expecting this level to track over the next 12 months, and which end markets are expected to provide the most incremental opportunities? Hey, Aziza, this is Rich. Great question. We're experiencing really strong demand from across the board. If you think about just six months ago, we had customers that were only from the CPG vertical, and since then, we've had apparel companies, automotive companies, building materials companies, and we're experiencing a wide range of demand from those verticals as well as additional companies, really around the world. It's not any one specific category that's driving this growth. It's really across the board. In addition, we continue to partner with other chemical companies who want to build on top of our materials. Got it. As a follow-up, could you guys share your thoughts on future bio premiums and carbon credits in terms of your pricing? Sure. Our pricing strategy, let's take PET for an example. We typically start with third-party projections for the forward pricing of PET and then add a reasonable premium to that to account for the carbon negativity of our materials and the sustainability, and to some extent, the fact that we can offer fixed- rate pricing to our customers, which takes the volatility out of their cost structures. Overall, we're trying to be strategic about it, and we want our customers to feel confident that we see them as long-term partners. We want to be a very meaningful part of their supply chain going forward. Part of that means offering very fair pricing and not trying to take advantage of them in any way when it comes to pricing. We are commanding reasonable premiums. Great. Thank you. Thank you. Our next question comes from Steve Byrne of Bank of America. Please go ahead. Yes, I'd like to keep that discussion going on these additional contracts that you've been talking about here, Rich. How would you describe the structure of these additional contracts, and how firm is pricing in them? Sure. Hi, Steve. These contracts are, first of all, they're large, so they're typically over $100 million. They're 5 to 10 years in length, and they're typically with big companies. We normally start with what we call a capacity reservation, which specifies the product, the price, the quantity, and the duration of the contract. We'll move that into an offtake agreement, certainly in time for project financing of the plants. That's the very standard structure that we use with most of our customers. Origin 1, you're going to start up in early 2023. Are you at a point where you're starting to negotiate with tollers? If so, how firm of a pricing can you get from them for the upgrade of the CMF all the way to paraxylene or even PET? It's a great question. Yeah, we are- Byrne. Oh, go ahead, John. Oh, sorry. Go ahead. No, go ahead, John. It's a great question. Hey, Steve, by the way. Nice to talk to you again. The key here is there are a variety of different steps in the toll manufacturing chain coming off of Origin 1. In the broad scope, there are some areas where we have quite a bit of certainty, and we really do understand quite well what sort of the cost, let's say, collars are on what that's going to look like. There are other areas where there's a little bit less certainty. Generally speaking, if you're looking at sort of the overall quantity of demand or revenue that we're expecting to generate from Origin 1, I think for the majority of that, we have a pretty good understanding of the collars on cost for that section, for the toll manufacturing of that. In many ways, that's because a substantial amount of the downstream processing is chemistry that's pretty well understood and which mirrors or let's say mirrors a good word. Mirrors existing chemistry. We sort of understand what the throughput's going to be, we understand what the reaction profile's going to be, we understand how the equipment that it's going to be operating in performs. In many cases, this won't be the first time that tollers have operated in this general style of chemistry. It's not sort of first of a kind for these guys. They really understand it pretty well. All that to say, I think we have a pretty good understanding of it, even though it isn't 100% locked at this point, just because, generally speaking, you don't get that kind of long-range commitment on pricing from tollers, which I think is probably why you asked the question. Just real quickly, is the HTC that'll be produced out of Origin 1 have a fate? What are you going to do with that? It does have a fate. We haven't disclosed exactly what that fate's going to be yet, in large part because it's, as is the case for most of the products that are coming out of Origin 1, those products are being used for commercial and market development and application development for products other than PET and other than HTC fuel. We really see that as an opportunity to advance the ball in some of the higher margin, higher value kind of product areas for us. That also means that, as is typical for us, we're working with other companies on those products and applications. We disclose them when those companies or when we are ready to disclose them. I don't think we've done so for HTC at this point. It will be. Okay. Thank you. It will have a destiny. Okay. Thank you. Once again, if you have a question, please press star then one. Our next question comes from Mark Connelly of Stephens. Please go ahead. Thank you. Very happy to hear Nate’s comments on inflation. We’re obviously seeing a lot of companies across a lot of industries spending more on CapEx, either to get things done with more certainty or because the stuff has gotten more expensive. How have you guys been impacted so far? Are there significant pressure points if this labor short, transportation constraint environment continues? Yeah. I think you're right. We have seen, as you say, there is movement in the supply chain. We are seeing inflation in certain areas. I'd say for Origin 1 in particular, we've seen modest impacts there. Frankly, there have been both puts and takes on it. That's why we feel pretty comfortable that, or very comfortable, I should say, that we're going to deliver that on budget in our prior capital budget. I think, for Origin 2, we had looked at that originally with materials prices that were substantially higher than what a lot of us were seeing in 2020. We just carried those forecasts across. We didn't take advantage of the trough in materials pricing and labor pricing that everybody saw in 2020. From that perspective, I think, frankly, we're sort of seeing a return to what we were expecting the prices to be when we originally put that forecast together. For Origin 1, of course, we've made a lot of those purchases already for raw materials in the places where you see some of that inflation occurring. Okay. The second question, your initial quantities of CMF and HTC from Origin 1 and 2 are going to be relatively limited, considering the size of the market and the potential interest. My understanding is your strategy has been to reserve some of that tonnage for new development customers. How do you prioritize given that you've got early sponsors and early customers that are likely going to want more than you can actually produce? That's a great question. The way that we think about that is really which products and which markets are strategic for us. A lot of that has to do with where do we see, and this is probably unsurprising, where do we see the performance of our sort of non-drop-in, non-PET products? Where do we see the performance advantages really show up? What are those applications? How do we double down essentially with that material and those applications? I'd say the other thing that we find is while our customers are always interested in more material, I'd say that's sort of a consistent drumbeat across the board for us is they all want more. The reality is they understand there's a somewhat limited amount of material, as you say, coming out of Origin 1 relative to, of course, the total market size for these applications. They're focused also alongside us on doing the work that is most valuable with that material in order to move these markets along beyond these sort of beyond PET, beyond drop-in markets. Sure. I think there's a lot of common interest in getting these markets moved along as easily as possible, even though, of course, as you say, they want as much as they can get as soon as they can get it. Thank you. Appreciate it. Our next question comes from Eric Stine of Craig-Hallum. Please go ahead. Hi, everyone. Thanks for taking the questions. Eric. Hey, just to take that last question a little bit further, even beyond Origin 1, as you play this out, clearly you're seeing a big expansion in what you've got under contract, offtakes and that 3.4. Are you sensing that your customers are starting to get concerned, or at least look out a little further and see some scarcity of value to the production that you're planning? I guess I'm just wondering, is that something that you could potentially ask for prepayments or things along those lines that could maybe accelerate Origin 2 or Origin 3's timeline and then going forward? Yeah, it's a great question. We are placing some orders on Origin 3 already, as an example. As part of our contracting process, when we go from a capacity reservation to fully reserving the capacity, there's a choice of a prepayment or going straight to offtake. We do think it's likely that many customers will choose to make prepayments as they have in the past. Having that demand, those prepayments, are the kind of things that will help us accelerate Origin 3 to the extent we can and Origin 4 and beyond. Yep. Just to be clear, when you talk about Origin 1 and Origin 2 being fully funded and also having excess, it doesn't sound like you're factoring in any prepayments, if that were to be the case. That would be above and beyond the projections that you just gave today, and as you said, would serve to accelerate things? It's true that we have not included prepayments in any of our funding assumptions. Yeah, if we were to receive meaningful prepayments, that would clearly help fund Origin 3 and beyond. Yep. Okay, good. Maybe this last one for me, just curious, as you've gone through this process, as things develop, the merger closes, all that, if anything has changed or any updated thinking on the feedstock strategy, how you're approaching that? I'm sorry. Yeah. On the which strategy? Oh, go ahead. Just on feedstock. Whether it's location- Oh, feedstock. Oh, yeah. I know you can use a wide range of materials, but are you starting to think that there are a few that would be optimal? Just looking for any details there. Yeah, got it. Gotcha. No, we haven't seen a huge change in our feedstock treasury or even really much of a modest one. I think what we're seeing is consistent support of our view of the feedstock markets for our process, which really means lots of it available. Very consistent pricing historically and looking forward. Obviously, we're looking at sites that have great access to feedstock, and I think that includes, of course, sawmill and pulp mill residuals, but all sorts of other materials as well. I think generally speaking, we feel like there are, frankly, if anything, more opportunities than we were expecting to see these pulp mill sites than we were anticipating originally. I think definitely seeing reinforcement and maybe even more opportunity than we were expecting on the feedstock side. Okay. I did jump on a little late, so I apologize, but just to confirm, did you say that Origin 2, you thought that, or you were hoping to have a site selected, was it by the end of 2021? Did I hear that correctly? That's correct. Yep. Okay. Thank you. Our next question comes from Pavel Molchanov of Raymond James. Please go ahead. Thanks for taking the question. In your comments about financing for Origin 2, you talked about commercial lending arrangements. What's the role of the public sector in how you're thinking about Origin 2? Hey, Pavel. It's Nate. Let me see if I can take that one. It's a great question. One, I think that first you have to remember that we do consider ourselves fully funded. We see that through a combination of what our traditional project financing, and that does include some government support programs. We think there are some terrific programs available through loan guarantees, for instance, domestically through the USDA, U.S. Department of Energy. We also are fully prepared to do this through conventional project finance or municipal bond market. Understood. Okay. Those are all options. How many sites for Origin 2 are you choosing from? I guess, what's the geographic scope of those options? Yes, sure. Generally speaking, we saw many dozens of potential sites at the top of the funnel that satisfied our roughest criteria. As we've honed that down, we're seeing, let's call it, six to eight sites at this point that we think are really, really good sites that meet every single one of our criteria, and each of which would be spectacular. I'd say generally speaking, the Gulf region broadly is attractive geographically because it has generally low cost of feedstock. It has lots of extremely skilled labor, both on the construction and the operational side. It has an incredibly knowledgeable industry infrastructure around capital projects and processes of this sort. I would say that is likely. I wouldn't, at this point, narrow it down beyond that. Although we have, again, we have a handful of sites that we're extremely excited about. Got it. Thanks very much, guys. Thank you. Our next question is a follow-up from Mark Connelly of Stephens. Please go ahead. Thank you. Just a couple of big-picture questions. You've pointed out in the past that the big plastic producers aren't your competitors, but are potential customers, partners, collaborators. What needs to happen for those relationships to grow, and what will we see from the outside? When are we going to see these, and what's it going to look like? I'll start, and maybe, John, you can add if I miss anything. We have existing relationships with Solvay, Mitsubishi Gas Chemical, Stepan, and a few other chemical companies where they're taking our materials and then further engineering them into higher value applications, including going into engine components and things like that. We certainly see them as sort of customers in a way of taking our materials to market. We've also talked about the tolling relationships and partnerships like that, which are in active discussions. We've also talked about our open-mindedness towards licensing as we try to get more supply online over time. We really approach those partnerships with a very open mind and with a lot of different ways to work together. Do you expect in the next six months to be telling us about more of these kinds of relationships? That's really sort of what I'm looking for, is the timing. Yeah. Timing's always hard with these big companies and big partnerships. We have an active pipeline of conversations going on with other chemical companies. I would think we would have things to share in the coming months. Okay. Just a second question. As we think about the transition to CMF, and I suppose HTC, but I'm more interested in CMF, what role in getting that message out to consumers are you going to play versus your customers? Are you expecting most of the plastic buyers to be the ones that really do the promoting of this? I'm just trying to understand how you think about, you mentioned early on, easy gets all the press. How do you attract more attention? Yeah. We'll certainly be as visible and promoting as much as we can. If you think about the magnitude of some of our partners, think about the Pepsis and Nestlé and Danone of the world and the Ford and others that we're talking to, and I think their marketing platforms and ability to put things on labels and deliver consumer messages will be really what pushes it through. Okay. Yeah. I wasn't expecting you to tell me there was going to be a big ad budget. Just last with respect to Origin 1 and 2, what kind of milestone should we be watching for in the second half to know whether you're on track, and what are we likely to hear from you? Great question. I think the big ones to look for are, for Origin 1, it's erection of the modules. Getting those modules up and bolted down to the foundation is we don't expect it to accelerate the overall timeline for Origin 1. Hitting that ahead of schedule, the way that we're now expecting to or ahead of our original schedule, I think really shows that we're moving this thing along. Right. I think it gives us just yet another thing to look at and say, "Okay, this is moving the way it's supposed to." I think that's one that I would look for, and I think the second one on Origin 2 is really site selection. We mentioned in our prepared remarks that we had selected Worley in particular to work with us on the front-end engineering for Origin 2. Worley's sort of the best in class in this kind of stuff. Bringing them in, we were originally anticipating to announce that more like end of year. We pulled that forward quite a bit. We've gotten it done already. We're moving along there. I think that the second big one is one that came up in an earlier question: when are we going to have the site selected? We're still anticipating having that selected by the end of the year. I think that's what I would keep an eye out for. Super. Thank you. This concludes the question and answer session. I would like to turn the conference back over to Mr. Riley for any closing remarks. Thanks, Ariel, thank everyone for joining us today. We look forward to future discussions, updating you on our progress. Have a great evening. This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.