As the final month of Q3 rolls in, Origin Materials has so far been pretty silent on the publicity front but that doesn't mean that things aren't happening behind the scenes. While the stock price has remained depressed since the last earnings call, many small developments are happening that are setting in forth major growth for the company's future.
2022 AFCC Global Biobased Economy Performance Award
Covertly presented via LinkedIn, this award was presented to Origin Materials by the Executive Vice President, Policy of Alternative Fuels & Chemicals Coalition. The organization is "a collaborative effort that is guided by the shared objectives of its industry participants. AFCC builds on the government affairs expertise that already is in place to support federal agency programs important to the alternative fuels, renewable chemicals, biobased products, and sustainable aviation fuels (SAF) industries and monitor and speak out on pending legislation in the U.S. Congress." The AFCC is hosting an in-person exhibition and conference on November 6-8, 2022 in Washington, DC. It has not yet been revealed if Origin will be in attendance at the conference, or if they are even a member of the Coalition. To me, it also seems like the award is an extended invitation since Origin fits right into the AFCC's wheelhouse. My opinion aside, more shall be revealed.
Two Conferences Upcoming
There are two appearances that have been confirmed, coming up this week:
- Bernstein 2nd Annual Reimagining the Future of ESG Conference in New York, NY (September 13, 2022)
- Credit Suisse Carbon Negative Conference 2.0 in San Diego, CA (September 14-16, 2022)
Co-CEO Rich Riley will make the presentation in New York, while fellow co-CEO John Bissell will be presenting in San Diego.
Institutional Position Updates
There was only one 13F filed this past week. On September 6, IFP Advisors reported that they still held 1k shares -- no change to their position.
Item No. 3 Approved by LPFA
On September 6, the Louisiana Public Facilities Authority held their monthly board meeting. Item No. 3, for the "Origin Materials US Megasite" was on the docket:
Though the results have not been officially posted, a representative of the LPFA confirmed to me via phone call that Item No. 3 was approved. This approval was only step #3 of 18 before actually receiving the funds raised from the bonds. For the complete overview of the process, see http://www.lpfa.com/wp-content/uploads/2019/08/lpfa-application_7-of-7-files-general_info_on_tax_exempt_and_taxable-revenue-bonds_9-25-03_page-numbers.pdf
Another ExxonMobil Poach, Headcount Hits Milestone
There are now a total of 10 former ExxonMobil employees who work for Origin Materials now. Here's a snapshot of the public resume of the latest person to join:
In addition, the company has hit a headcount milestone - now boasting a total of 150 employees. Unofficially, of course.
Mention in Sustainable Chemistry Review
The company received another mention in the September 5 issue of Sustainable Chemistry.
SEC Filings
The company did not file any documents with the U.S. Securities and Exchange Commission this week.
Weekly Chart
NASDAQ: ORGN
