Houston Lab Revealed

Polymer chemist Tony Maiorana is creator and writer of The Polymerist blog on Substack. He created a post called "Hire This Community" on August 17, which was intended to be a way for the 1200+ readers of his blog to network and make connections for anyone who may have a job. Look who decided to drop a line:

What's intriguing here is that this is the first mention of an Origin Materials lab in Houston, TX. A quick search of the Texas Taxable Entity reveals that they do indeed have a right to transact business in Texas.

According to LinkedIn, there are a total of 19 employees that are based in the Greater Houston area. These include several process engineers and directors, some of whom left companies like Chevron-Phillips, DOW, and ExxonMobil to join Origin. They are currently hiring for a research scientist at the Houston lab:

Origin 1 Staffing Updates

The company has added to its Origin 1 staff, bringing the total number of employees based in Ontario to 18. Recent adds include an Analytical Technician III from a pharmaceutical background, a Chemical Process Operator who is a product of Lambton College's CPET program, and a Production Engineer. While it has not been mentioned how many people will be needed to fully staff the company's first industrial-scale plant, six job listings remain active:

• Analytical Chemist
• Analytical Technician
• Analytical Supervisor
• Chemical Process Operator
• Chemical Process Operations Shift Lead
• Process Engineer

The unofficial headcount is now at 146 employees, per LinkedIn.

SEC Filings

The company did not file any documents with the U.S. Securities and Exchange Commission this week.

LA Board of Commerce and Industry Approves Tax Breaks

As it stands now, Origin will receive an estimated tax break of $9.6 million and pay $2.4 million the first year of exemption. Origin 2 is expected to bring 200 permanent jobs to the Greater Baton Rogue area. 

#7 on Recycling Startup's Top 100 List

According to the website RecyclingStartups.org, Origin Materials is #7 on their list of top 100 United States recycling startups. Though they may want to double-check their blurb to make sure they have the most up-to-date information:

Institutional Position Changes

There were so many new positions reported by institutions this week that an adequate screenshot cannot be captured. Suffice to say, there are now 199 total funds with Origin Materials in their portfolios. To see the complete list, check out the institutional ownership page on Fintel.

Weekly Chart

Despite a shellacking on Friday, driven by comments from Federal Reserve Chair Jerome Powell, ORGN actually ended up 1.8% on the week. The stock was making a nice recovery through Thursday, establishing higher lows along the way. The weekly close at $6.21 is below the 50-day moving average, so that will be something to watch for next week.

Stock mentioned - Origin Materials (NASDAQ: ORGN)