Origin Materials cuts back on biobased chemicals

Origin Materials is scaling back operations converting biomass to chemicals as it changes its focus to a completely new business: bottle caps. Origin has developed a technology to treat lignocellulosic feedstock with hydrochloric acid to yield chloromethyl furfural (CMF), which the company has been promoting as a chemical building block to make the polyethylene terephthalate (PET) precursor p -xylene and furandicarboxylic acid, a raw material for polyethylene furanoate. Origin started up a plant with 25,000 metric tons of capacity in Sarnia, Ontario, last year. In addition, though, the company launched a business last year to make PET bottle caps for PET bottles. The aim is to replace the polyethylene and polypropylene caps currently used to make all-PET packages, which are more recyclable. Origin says in a press release that it has lined up a $100 million contract for the caps. But it says that it will reduce its overall staff