$5m in­vested in US green start-up

The Star Early Edition - - COMPANIES - – Sandile Mchunu

SOUTH African-based ex­plo­sives and spe­cial­ity chem­i­cals com­pany AECI has in­vested $5 mil­lion (R64.95m) in Ori­gin Ma­te­ri­als, a start-up based in Cal­i­for­nia in the US. The part­ner­ship was in line with AECI’s growth strat­egy, in terms of which it has been in­ves­ti­gat­ing the pos­si­bil­ity of ac­quir­ing green tech­nolo­gies that com­ple­ment its chem­i­cals port­fo­lio. Ori­gin Ma­te­ri­als has pi­o­neered the devel­op­ment of bio-based chem­i­cals, which can be pro­cessed into a large num­ber of prod­ucts for ap­pli­ca­tion in global mar­kets worth more than $200 bil­lion. AECI chief ex­ec­u­tive Mark Dy­tor said: “The part­ner­ship with Ori­gin fits right into our core val­ues: go­ing green, be­ing bold (and) be­ing in­no­va­tive ... Tak­ing bot­tles from a pe­tro­leum-based poly­mer to a 100-per­cent green bio-based poly­mer. The mar­ket will wel­come this and em­brace this (tech­nol­ogy), and we look for­ward to play­ing a role in in­dus­tri­al­is­ing this project.”

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