Core Viewpoint - International Paper plans to create two independent, publicly traded companies focused on sustainable packaging solutions in North America and EMEA, aiming to enhance value creation and operational efficiency [1][3][8]. Group 1: Company Strategy and Structure - The separation will result in two distinct companies: one for North America and another for EMEA, each with tailored management and investment strategies [1][3]. - International Paper's North American business will focus on sustainable packaging solutions, leveraging both legacy IP and DS Smith assets to serve various industries [4][5]. - EMEA Packaging will operate as a standalone entity, emphasizing innovative customer solutions and sustainability, while reallocating resources for enhanced service [8][11]. Group 2: Financial and Operational Goals - The separation is expected to strengthen International Paper's position in North America, allowing for targeted capital allocation and improved operational focus [4][6]. - Following the separation, International Paper aims to accelerate investments in organic growth, productivity, and strategic acquisitions while maintaining a strong balance sheet [6][11]. - EMEA Packaging will continue to execute its 80/20 roadmap to optimize costs and drive innovation, with a focus on meeting evolving market demands [9][10]. Group 3: Leadership and Governance - Andy Silvernail will remain as Chairman and CEO of International Paper, while Tim Nicholls will lead the new EMEA Packaging company [7][12]. - The new EMEA company will have a robust investment-grade balance sheet and a dividend policy to support operational delivery and investment flexibility [11]. Group 4: Transaction Details - The separation is expected to be structured as a spin-off, with International Paper retaining a meaningful ownership stake in the new EMEA company [13]. - The completion of the separation is anticipated within 12-15 months, subject to customary conditions and approvals [14].

DCGpac has opened its new manufacturing facility in Noida, India, aiming to increase the in-house output of sustainable packaging materials. The 20,000ft² plant has an initial capacity to produce 250t per month. The facility is structured for backward integration by incorporating raw material sourcing, production, quality checks, and distribution processes. The plant has been developed through a five-year collaboration with UKHI, a company focused on biodegradable and compostable materials. DCGpac sta ...

Financial Data and Key Metrics Changes - Innventure reported revenue of $0.5 million for Q3 2025, primarily from proof of concept sales at Accelsius, indicating early-stage revenue growth has taken longer than expected [15] - Total G&A expenses for the quarter were $16.9 million, down from $18.6 million in Q2 and $19.7 million in Q1, reflecting improved operational efficiency [15] - The net loss for the quarter was $34.7 million, with adjusted EBITDA showing a loss of $17.5 million [15] - Cash at the end of the quarter was $14.1 million, an increase of $3 million from the beginning of the year [15] Business Line Data and Key Metrics Changes - Accelsius's opportunity pipeline grew 79% quarter over quarter, exceeding $1 billion, with over 75% of the pipeline representing production opportunities for 2026 [4][5] - AeroFlexx achieved its fifth consecutive quarter of revenue recognition across multiple market categories, highlighting a strong customer pipeline in both the U.S. and EU [8][9] - Refinity is progressing towards commercializing its technology, with plans for a mid-scale demonstration in 2026 and larger commercial deployments thereafter [10][11] Market Data and Key Metrics Changes - Accelsius's bookings in Q3 surpassed all previous quarters combined, indicating a significant growth trend expected to continue into Q4 and beyond [5] - AeroFlexx received two prestigious awards in Q3, underscoring its leadership in sustainable packaging solutions [9] Company Strategy and Development Direction - The company is focused on building market-changing companies that deliver tangible value for shareholders, with a disciplined, data-driven model pairing transformative technologies with proven operators [12][13] - Accelsius's recent $25 million strategic investment from Johnson Controls is expected to enhance its growth capital and market position [6][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Accelsius's ability to create long-term value, citing robust growth projections and a strong opportunity pipeline [6][12] - The company acknowledges that its share price does not currently reflect the underlying value created, but remains committed to executing its strategy and expanding its pipeline [13][16] Other Important Information - The company has deployed approximately $160 million into its operating companies, producing net assets valued at an estimated $860 million [12] - Accelsius has expanded its manufacturing footprint with a dedicated facility in Austin and installed demonstration sites in various locations [5][6] Q&A Session Summary Question: Can you elaborate on the $1 billion opportunity pipeline for Accelsius? - The pipeline is significantly spread out with several hundred leads, and while large orders from hyperscalers are possible, the majority are smaller opportunities [18][19] Question: What is the expected conversion rate for the pipeline over the next 12 to 18 months? - Management indicated that the pipeline metrics are well calibrated, and while they cannot provide specific percentages, they are confident that a meaningful fraction will translate into revenue [29][32] Question: What investments or supply chain builds are required for Accelsius to support large-scale developments starting in 2026? - Accelsius has designed its supply chain thoughtfully, primarily using North American suppliers and dual-sourcing components to avoid supply chain challenges [28] Question: Are there any integration or regulatory milestones before transitioning pipeline orders into firm orders? - There are no significant technical or regulatory hurdles, and the company is well-positioned to deliver as customer needs arise [33]

Core Viewpoint - International Paper is strategically exploring the development of a new sustainable packaging facility in Salt Lake City, Utah, to enhance its manufacturing capabilities and meet the growing demand for sustainable packaging solutions in the U.S. market [1][3]. Group 1: Strategic Growth Plans - The exploration of the new facility is part of International Paper's strategic growth initiative aimed at expanding its manufacturing footprint in the United States [1][3]. - The company recently celebrated the groundbreaking of another sustainable packaging facility in Waterloo, Iowa, indicating a broader commitment to growth in this sector [2]. Group 2: Market Opportunities - Salt Lake City represents a new market for International Paper, providing an opportunity to better serve existing customers and attract new ones in the region [3]. - The proposed facility will utilize cutting-edge technology and equipment to deliver innovative and sustainable packaging solutions to a growing customer base in the western U.S. [4]. Group 3: Company Overview - International Paper is a global leader in sustainable packaging solutions, with headquarters in Memphis, Tennessee, and operations in over 30 countries [5]. - The company reported net sales of $18.6 billion for 2024 and acquired DS Smith in 2025, strengthening its position in the North American and EMEA regions [5].