- CapEx: $750 million
- Jobs: 1,057 new (200 direct, 857 indirect), 500 for construction
- Product: Biomass/Plant-Based PET Manufacturing
- Location: Geismar, Ascension Parish / Capital Region
- Project overview:
- Manufacturing facility will use sustainable wood residue – sourced partly from Louisiana timber mills and forests – to produce plant-based polyethylene terephthalate (PET) used in packaging, textiles, apparel and other applications.
- Facility will also produce hydrothermal carbon, which can be used in fuel pellets.
- The company has partnered with leading consumer brands, including Danone, Nestlé Waters and PepsiCo for plant-based PET plastic consumer products, as well as Ford Motor Co., Mitsubishi, tire and plastics manufacturers and global chemical companies.
- Bills itself as the “world’s leading carbon-negative materials company.”
- Construction is expected to begin in 2023
- Estimated completion: Mid-2025
- LED news release: Feb. 16, 2022
Company website: OriginMaterials.com