Origin Materials to Develop Low-Carbon Footprint Packaging for LVMH Beauty

By Chris Wack

Origin Materials Inc. and LVMH Beauty, a division of LVMH Moet Hennessy Louis Vuitton, said they entered into a strategic partnership to develop sustainable low-carbon footprint packaging for the perfumes-and-cosmetics industry.

As part of the partnership, LVMH has signed a multiyear capacity reservation agreement with Origin Materials to purchase sustainable, carbon-negative polyethylene terephthalate, or PET, for use in packaging for perfumes and cosmetics, they said.

PET produced using Origin technology is functionally identical to petroleum-based PET, but with a lower carbon footprint since it is made from sustainable wood residues, which capture carbon. Origin PET is equally recyclable to fossil-based PET within the existing infrastructure, which creates a circular economy with a significantly reduced carbon footprint, the company said.

Origin Materials shares were up 5% to $7 in premarket trading.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

April 19, 2022 07:46 ET (11:46 GMT)

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