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2023 Year in Review

2023 was a transformational year for Origen as we took significant steps towards achieving our purpose as a business, namely, bringing forward commercial scale carbon dioxide removal through direct air capture (DAC) services.

Reflecting on 2023

Over a number of years, Origen has built an industrial scale pilot, R&D facility, and commercial partnerships with industry leaders to develop the next generation of DAC.

In 2023, Origen made significant progress in DAC technology development. The Company received highly promising bench-scale data, validating Origen’s top limestone-based DAC contactor concept. This was followed by the filing of a US patent. At our Bristol, UK Technology Center, we commenced testing at 1 tonne per annum CO2 removal scale as we continue to develop our technology.

2023 saw Origen select a US-based engineering partner and develop the initial design concept for 1,000 tonnes per annum of carbon removal. This has created a pathway to accelerate testing of a fully integrated limestone-based DAC system demonstration in 2024.

This work has given us the confidence that we have developed a scalable DAC technology to permanently reduce the level of CO2 in the air. In August 2023, Origen was one of several successful DAC technologies selected as part of US Department of Energy $3.5B Direct-Air-Capture Hubs program. Origen’s DAC Hub opportunities provide a path forward to scale its technology to thousands then millions of tonnes of carbon removed per annum.

With DAC and carbon removal now considered “inevitable” to mitigate the worst impacts of climate change, Origen’s next phase of growth will create a lasting impact by removing CO2 directly from the air at meaningful scale.

Looking ahead

In 2024 we are poised to advance the scale-up of our limestone-based DAC system where we are the only company to own the full loop of technologies. It is our ambition that in the second half of the year, we will demonstrate the commercial viability of Origen's proprietary technology. This will enable the commercial deployment of the technology, and we are constantly reviewing partners with the capability to support accelerated development.

Alongside this work, at our Origen Technology Centre in Bristol, we will continue to invest in our technology as we know that to achieve our ambitions we must draw upon decades of world-leading science and technology research from some of the brightest minds in the industry.

We are hugely excited by the year ahead for the business. With a dynamic team and a clear focus on accelerating the commercialization of our next generation technology, this is an exciting time at Origen. We are extremely grateful for the support we have received from all our stakeholders and if you would like to learn more, please visit our website Origen | Home (origencarbon.com) and contact one of the team.

Together, with innovative technologies like our limestone-based direct air capture, we can help create a lasting impact by removing CO2 directly from the air at meaningful scale. We look forward to updating all our stakeholders with our progress throughout 2024.