Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW) unveiled its proprietary Origin CapFormer System, the world’s first commercial-scale manufacturing system for PET caps and closures, and successfully completed the system’s Factory Acceptance Test.
“Today is a key milestone for sustainable packaging and recycling,” said Origin Co-CEO and Co-Founder John Bissell. “The Origin CapFormer System has completed its Factory Acceptance Test at commercial production scale. The industry has been searching for PET caps for a long time and we are delighted to share that our first-of-its kind system works spectacularly well. Through the novel application of thermoforming, slit-and-fold technology, and proprietary design elements we have unlocked the ability to produce PET caps at commercial scale. We approached the problem differently than anyone had previously and the result was a breakthrough. We are addressing a $65 billion caps and closures market with a strong leadership position, offering the first and only commercial-scale solution for PET caps: the state-of-the art Origin CapFormer System.”
