Origin Materials Inc. announced last week that the Louisiana State Bond Commission had unanimously granted final approval of up to $1.5 billion in tax-exempt bonds for the construction of Origin 2 in Geismar, the company’s first world-scale manufacturing facility.
Origin’s use of solid waste feedstock to produce carbon negative materials enables it to use these tax-exempt bonds towards financing the Origin 2 project. Bank of America, a global investment bank and financial services company, has been engaged by Origin to underwrite the bonds and market them to investors.
Building upon the previously announced $400 million in Private Activity Bond volume cap allocation, the Bond Commission has authorized issuing bonds of up to $1.5 billion, inclusive of the PAB cap, to support construction and commissioning of Origin 2. This could enable the debt financing of Origin 2 using entirely tax-exempt bonds. Read the entire announcement.
