Tire cord maker Hyosung partners with Origin for carbon-negative materials

SEOUL, South Korea—South Korean tire cord maker Hyosung Advanced Materials Corp. is partnering with Origin Materials to industrialize sustainable high-value specialty materials.

Under the multi-year deal, announced March 22, the Seoul-based group will source "carbon-negative" polyethylene terephthalate (PET) from West Sacramento, Calif.-based Origin to produce more sustainable tire cords, HTC for battery materials and furanic derivatives for apparel applications.

Origin makes PET, as well as other materials and chemicals, from carbon-negative chloromethylfurfural (CMF), produced from wood residues.

According to Origin, its patented technology turns carbon from wood residues into feedstock materials, while also capturing carbon in the process.

The materials, it stated, will support Hyosung's efforts to address climate change with a focus on carbon neutrality and eco-friendly business sectors.

"We are excited to be a partner with Origin Materials to take this pathway together to Net Zero through this innovative technology development and commercialization effort," said Young Joon Lee, Vice President at Hyosung.

"Sustainability is at the heart of Hyosung's growth strategy, and we firmly believe that our strong partnership will take both of us to the forefront of industry leadership in the renewable materials space," Hyosung Vice President Young Joon Lee said.

Origin Materials Co-CEO Rich Riley said the partnership is a "significant milestone" in the company's mission to "transition the world to sustainable materials."

"The opportunity for working together is remarkably broad, and we are excited to develop high-value products for use in a wide range of end markets and applications including batteries, automotive and apparel."

European Rubber Journal contributed to this report.