By Chris Wack
Origin Materials shares were up 18% to $1.14 after the company began commercial-scale production at its Origin 1 facility, located in Ontario, Canada.
The stock hit its 52-week low of 86 cents on Monday, and is down 77% in the past 12 months.
The company said the plant scales up its core technology platform for converting sustainable wood residues into intermediate chemicals, including and oils and extractives.
Origin 1 will enable the commercial-scale production of Origin’s versatile chemical building-blocks, which can decarbonize and improve the performance of a wide range of end-products, including bio-based apparel and textiles, green tires for the automotive industry, and bio-based and fully recyclable packaging.
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