The Louisiana Public Facilities Authority cancelled today's scheduled board meeting. On the scheduled agenda was the approval for the issuance of revenue bonds to finance the company's Origin 2 facility in Geismar, Louisiana.
According to an LPFA representative, there weren't sufficient representatives to proceed with the meeting. One of the board memebers is "very ill with a protracted illness." The agenda for today's meeting will be automatically rescheduled to the board's next scheduled meeting, which is set for September 6, 2022.
The Authority is very excited for Origin Materials to be building their "O2" facility in Geismar. It seems that the delay in approval is just a mere formality and shouldn't have any major impact on the plans for the $1 billion plant. Construction on the facility is set to begin mid-2023, with the plant being operational mid-2025. More information can be found at:
https://gov.louisiana.gov/index.cfm/newsroom/detail/3564
Origin 1, the company's first commercial scale production plant located in Sarnia, Ontario, is expected to completed by year's end and operational in Q1 2023.
