Origin Materials shares surge 12.89% intraday after expanding PET cap distribution in Latin America with HP Embalagens.

Origin Materials surged 12.89% intraday after announcing a strategic partnership with HP Embalagens to scale PET bottle caps in the Latin American market. The collaboration, emphasizing sustainable, recyclable packaging for major clients like Nestlé and Ferrero Rocher, underscores Origin’s technological innovation and market expansion. CEO John Bissell highlighted the partnership’s role in unlocking "significant growth" in South America, while HP Embalagens’ Felipe Souza praised the "measurable impact" of Origin’s PCR-based PET caps. The move follows recent partnerships with Berlin Packaging and Royal Hordijk, accelerating commercial adoption of the product. The reverse stock split (Reason 2) was a prior bearish event but does not align with the intraday rally, which is driven by the Latin American expansion and demand from high-profile clients.