Origin Materials, Inc.

Thank you for standing by. This is the conference operator. Welcome to the Origin Materials third quarter 2023 earnings call. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Ashish Gupta, Investor Relations. Please go ahead.

Thank you and welcome, everyone, to Origin Materials' third quarter 2023 earnings conference call. Joining the call today from Origin Materials are co-CEO and co-founder John Bissell, co-CEO Rich Riley, and CFO Matt Blavin. Ahead of this call, Origin has issued its third quarter press release and presentation, which we will refer to today. These can be found in the investor relations section of our website at originmaterialist.com. Please note, on this call, we will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect our views as of today, should not be relied upon as representative about views of any subsequent date. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements. in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For further discussion on the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our quarterly report in Form 10-Q, filed on November 9, 2023. In addition, during today's call, we will discuss non-GAAP financial measures, which we believe are useful as supplemental measures of origin materials performance. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. You'll find additional disclosures regarding the non-GAAP financial measures discussed on today's call and our press release issued this afternoon and our filings with the SEC, each of which is posted on our website. The webcast of this call will also be available on the Best Relations section of our company website. With that, I'll turn the call over to John.

Thank you. Good afternoon, and thank you for joining us. Before we begin, I'd like to welcome Matt Plavin, Origin's new Chief Financial Officer. I'm confident Matt will be a tremendous addition to the team. Matt brings 16 years of executive-level experience within publicly traded, technology-driven companies operating in complex business environments. He has a proven track record of leading initiatives to fund the commercial scale-up of disruptive technologies into well-established industries. As a CFO, he has successfully led all finance functions, including equity, debt, and strategic partner capital acquisition. long-range project budgeting, forecasting, and product progress reporting. We look forward to working with Matt. Welcome. I'll start by reviewing our recent success initiating commercial scale production at Origin 1. We believe that this is a historic milestone, not just for Origin, but for renewable manufacturing more broadly. I will then provide a brief update on Origin 2. Next, I will turn it over to Rich, who will provide a commercial update, and Matt will conclude with a financial overview. In early October, we announced the commencement of production at Origin One, our first commercial scale plant and the first plant of its kind. As a founder, I have never been prouder of our team. Origin One scales up our core technology platform for converting sustainable wood residues into intermediate chemicals, including CMF, HTC, and oils and extractives. The scale up of a new fundamental chemical technology like our platform is not to be taken lightly, and we're thrilled to have reached this moment. We are very pleased with our plant's initial performance. The plant has worked as close to flawlessly as we could have hoped. Producing at commercial scale entails far more than flipping a switch. The preparation is extensive. The moment the plant came alive and made its first product was unforgettable. The Origin team did it despite a pandemic, a snarled global supply chain, some occasionally horrendous weather, high inflation, and many other challenges. And they did it with uncommon poise and professionalism. Congratulations, Origin team. You got us to the biggest inflection point in our company's history. As an operating chemical plant, OriginOne proves our technology's scalability, a key milestone for advancing our strategic partnerships. We are more excited than ever to deploy our platform and begin to meet the growing demand for our technology and products. Having produced CMF and HTC at OriginOne, we are in the process of sending materials to customers and strategic partners. For CMF, this includes a specialty chemical company and a major surfactants company. For HTC, this includes several major carbon black companies for use in green tires and other applications. Major tire companies, rubber companies, and especially carbon users spanning plastics, batteries, pigments, inks, coatings, dispersions, and other applications have expressed interest in our HTC-produced Origin 1. Our process in Origin 1 is part batch, part continuous. One benefit of our OriginOne system is that we expect a more modular configurable setup to allow us to adjust operating parameters more easily than if we were running a fully continuous process. For a closer look at OriginOne, I encourage you to watch our latest video, released this afternoon and available on our website. It shows you the plant, provides a first look at CMF and HTC produced on site, lets you get to know our team, and walks you through taking samples from our CMF storage tanks for analytics and testing. We're proud of our Origin 1 operations team, which is doing the hard work of running a plant while creating a culture of operational excellence and maintaining safety as a core value. They're doing an exceptional job. Looking ahead, we aim to ramp up production and vary feedstocks over the coming months. For Origin 2, we continue to advance the project with an appropriate focus on optimal funding strategies. We're happy to report that many of our strategic partners have leaned in and asked how they can help us bring world-scale plants online as soon as possible. This could include co-development with one or more strategic partners. We look forward to providing additional detail on these less capital-intensive strategies for building world-scale plants in our February 2024 earnings goal. We continue to expect that Phase 1 of Origin 2 will be cash flow positive once operating in capacity. The next step for Origin 2 is a revised feed or front-end engineering design package. We will periodically update on feed progress and project costs as appropriate based on guidance from our engineering procurement and construction partners and relevant macro indicators. Regarding product development, we continue to find what we believe are higher-value applications for each of our product revenue streams. For example, we expect the market for the polymer PEF to quickly emerge in an adjacent value-add market to the PTC market. We are developing high-value HTC applications beyond carbon black for sustainable tires, such as batteries and pigments. We are also focusing on developing fuels from the first phase of Origin 2 to generate profits from our oils and extractors stream. With that, I will turn it over to Rich, who will provide a commercial update.