11:30 AM EDT, 05/29/2024 (MT Newswires) -- Origin Materials ( ORGN ) and Bachmann said Wednesday they are launching a partnership to mass produce PET caps and closures.

PET, or polyethylene terephthalate is a clear material used to make plastic bottles and food packaging.

Bachmann's plants in Europe will operate lines to convert virgin and recycled PET into caps, according to the statement.

Financial details weren't provided.