Palantir (PLTR) Enters Partnership with Origin Materials to Accelerate the World's Transition to Net Zero Carbon
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Origin Materials, the world’s leading carbon negative materials company, and Palantir Technologies Inc. (NYSE: PLTR) today announced the formation of a strategic alliance to accelerate the world’s transition to net zero carbon.
The strategic alliance will focus on decarbonizing the global materials supply chain. Palantir is a software company whose platforms enable organizations to optimize complex and sensitive data environments. Origin Materials plans to deploy Palantir’s Foundry technology to support the acceleration of its internal operations and to help companies decarbonize their supply chains on their journey to net zero.
“Existing supply chains for physical goods are complicated, opaque and carbon-intensive,” said John Bissell, Co-Founder and Co-CEO of Origin Materials. “The carbon-intensity of those supply chains is dominated by the raw materials which comprise physical, end market products. The combination of Palantir's data integration and modeling capability and Origin's expertise and technology for the decarbonization of physical raw materials is expected to help enable those complicated, opaque, and carbon-intensive supply chains to become well-managed, transparent, and decarbonized.”
“We are deeply energized by Origin’s meaningful progress against the world’s net zero ambition,” said Shyam Sankar, Chief Operating Officer of Palantir Technologies. “Our platform is uniquely suited to support the decarbonization of complex global supply chains. Customers across dozens of industries are using Foundry to build a carbon-focused common operating picture that allows them to track live emissions, simulate scenarios based on emerging technologies and regulations, and make real-time changes to their business.”
Origin Materials and Palantir are also exploring commercial opportunities that would bring value to their customers across a variety of industries by implementing data-driven strategies to understand, quantify, and reduce environmental impact while building a resilient and profitable business. This supply chain visibility is expected to enable carbon plans that can be applied to financial and regulatory reporting, daily operations, and multi-year business planning. As part of this new strategic alliance to decarbonize the world’s global supply chain, Origin Materials will also become a new Palantir customer.
Origin Materials’ patented technology platform, which turns inexpensive, plentiful and sustainable wood residues into carbon-negative materials, can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin Materials’ technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues.
“This strategic partnership with Palantir is expected to deliver significant value to our customers as they factor emissions from materials into their carbon accounting, disclosure and reduction processes,” said Rich Riley, Co-CEO of Origin Materials. “By integrating Palantir’s enterprise operating system with Origin’s carbon negative technology platform, we can help our customers optimize their decarbonization strategies across their supply chains and at the enterprise level.”
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