Sirwin
Sirwin

Origin Materials: An Uneventful PR with Interesting Reactions, 5/24/23


It all starts with a simple news release, something seemingly uneventful. Today, it was announced that Origin Materials Co-CEOs would participate in upcoming investor conferences. Specifically, they will present at TD Cowen's Sustainability Week on June 6-9, 2023 & the Wells Fargo Industrials Conference on June 13-15, 2023. The company has participated in dozens of these types of conferences, with the hopes of gaining exposure to institutional investors and additional industry exposure. The essentially flat level of institutional ownership of common stock would indicate little to no draw from new institutional investors, but the flurry of announced partnerships and new customers indicates that they are gaining popularity within the chemical space.

Let's take it a step further and examine the LinkedIn activity on today's PR. Again, it seems to be uneventful. But when we look at the likes "under the microscope," so to speak, one is left drawing "read between the lines" conclusions. So, let's begin with the post here:

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Click on the "33 others" to see the full list of reactions. Let the stalking begin! Obviously, first thing I notice is the usual suspects -- the Originals. Employees of the company that is. No surprise, nothing shocking. It makes sense that a company's employees will like the company's posts.

Next, it starts to get interesting. And speculative. Let me take a moment here to state that none of the following should be considered official information. It's all logical guesses, based on LinkedIn connections. With that being said, let's go!

The first like I'll examine comes from a gentleman, who is currently Vice President at Smith Tank & Steel, Inc. He is connected to a Materials Engineering Manager and Technical Director at Origin Materials.

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If you know the proximity of Gonzales, LA to Geismar, LA...then you can probably see where this is going. 

Smith Tank & Steel's 25,000 sq ft corporate office is situated on a 26-acre facility with rail spur capabilities, a 10,000 sq. ft. appurtenance fabrication shop, and a 23,000-sq-ft fabrication shop equipped with overhead cranes and latest state-of-the-art plate roller & plasma/oxy-fuel burning table. Smith Tank & Steel is recognized as a national leader for the construction of field tank projects. All work is performed in accordance with American Petroleum Institute 620, 650, and AWWA standards. We engineer, design, fabricate and erect tanks any size from small shop built tanks to field-erected tanks in excess of 315’ diameter. No job is too small or large for our experienced team. If a turnkey project interests you, we can handle the project from tank foundations, tank erection, painting, insulation and tie-in piping.


Nextly, (is that even a word? don't think so but it sounds good so we'll go with it), here we have another very interesting connection. This particular person has a history of liking Origin Materials post on LinkedIn. Rather than attempt to explain the significance, these two pictures should be worth at least two thousand words:

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Go figure. Indorama down, who's next?


Here we have someone perhaps involved in the recruiting of engineers and construction workers for Origin 2. This person is a senior recruiting consultant at the Personnel Consulting Group, based out of Metairie, Louisiana. The Engineering Director at Origin Materials follows the Personnel Consulting Group company page.

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This next reaction seems more likely of an attempt to drum up some business than an actual connection. We have a buyout assistance firm called Hello Exit reacting with a like.

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Is Hello Exit working to find a buyer for Origin Materials? Maybe so, maybe not. But at the current market cap of roughly $600M, the company is now worth roughly a third of the $1.8B price tag that Artius saw in Origin Materials two years ago for the SPAC merger.


We all know that Pepsi is a legacy Origin customer/partner, but how about Coca-Cola? Well, it may be a stretch to go that far, but it is interesting that one of their employees is following Origin Materials to some extent on LinkedIn with a slap of the "like" button:

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Perhaps something to do with global bottling partners? Maybe so, probably not. But it would make sense.


So that will be it for the "LinkedIn stalking" for this company post. It's amazing how something as simple as a seemingly meaningless PR can unearth at least some speculation. There's more yet to be discovered. And revealed...officially. Good evening.

Wolff Gets Promoted

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The stock (NASDAQ: ORGN) closed down -2.64% on the day at $4.43 a share.


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