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Danimer Scientific Inc (DNMR) is a leading innovator in biodegradable PHA bioplastics derived from renewable plant-based materials. This page provides investors and industry stakeholders with timely updates on the company’s progress in sustainable material science.
Access authoritative updates on DNMR’s financial performance, production advancements, and strategic partnerships. Our curated news collection offers insights into how the company is reshaping industries through compostable plastic alternatives while maintaining commercial viability.
Key updates include quarterly earnings reports, manufacturing facility expansions, new product certifications, and collaborations with global brands transitioning to eco-friendly packaging solutions. All content is verified through primary sources to ensure accuracy.
Bookmark this page for streamlined access to Danimer Scientific’s latest developments in renewable biopolymers. Check regularly for updates on technological breakthroughs and market positioning within the sustainable materials sector.
Danimer Scientific (DNMR) announced that the New York Stock Exchange (NYSE) has suspended trading of its common stock and initiated delisting procedures. The action follows the company's failure to maintain the required average global market capitalization of at least $15 million over 30 consecutive trading days, violating NYSE Rule 802.01B.
The company is considering appealing the NYSE's determination and expects its common stock to resume trading on the OTCQX market under the symbol 'DNMR' on December 31, 2024. The company's dividend warrants continue to trade on OTCQX under 'DNMRW'. Danimer emphasizes that the delisting process does not affect its business operations.
Danimer Scientific (NYSE: DNMR) has issued a super senior secured promissory note for $11,250,000 to existing term loan lenders and additional lenders. The secured loan has a two-year maturity with a 15.0% annual interest rate, payable in kind. The funding aims to strengthen the company's balance sheet and provide liquidity for its PHA and PLA biodegradable plastics operations.
The company reports progress on a significant cutlery award, having received orders for over 365,000 pounds of cutlery and film resin. Danimer expects to reach full annual run rate by mid-2025 for this project, aligned with their customer's ramp plan.
TerraNova Capital Equities announces three significant financial transactions totaling $45 Million. The company acted as sole advisor for: a $20 Million revolving credit facility for Danimer Scientific (NYSE: DNMR), secured through Mountain Ridge Capital and backed by accounts receivable and inventory; a $10 Million financing for Inuvo (NYSE American: INUV) arranged with SLR Digital to support its AI-powered marketing technology; and a $15 Million lender finance facility for Flow Capital Corp to expand their venture debt portfolio.
Danimer Scientific (NYSE: DNMR) reported Q3 2024 financial results with revenues of $8.6 million, down from $10.9 million in Q3 2023. PHA revenue decreased to $6.6 million due to Starbucks' straw business reapportionment. The company posted a net loss of $21.8 million, improving from a $40.2 million loss in Q3 2023. Notable developments include progress on a 20-million-pound cutlery award and the launch of 100% compostable Skittles packaging using Nodax PHA. The company maintains its full-year Adjusted EBITDA guidance range of $(30) million to $(35) million, with Q4 expected between $(7.0) million to $(7.5) million.
Danimer Scientific (NYSE: DNMR) has announced it will release its third quarter 2024 financial results before market opening on Tuesday, November 19, 2024. The company will host a webcast and conference call at 10:00 a.m. Eastern Time on the same day to discuss the results. The webcast will be available on the company's Investor Relations website, while the conference call can be accessed by dialing 1-800-445-7795 (domestic) or 1-785-424-1699 (international) using Conference ID: DSQ324.
Danimer Scientific (NYSE: DNMR) has announced a 1-for-40 reverse stock split, effective November 12, 2024, after NYSE trading hours. The stock will begin trading on a split-adjusted basis on November 13, 2024, under the same symbol 'DNMR'. This strategic move aims to increase the stock price to regain compliance with NYSE's minimum price requirements. Every 40 shares will automatically convert to one share, with cash compensation for fractional shares. The split will not affect stockholders' percentage ownership or the number of authorized shares.
Danimer Scientific (NYSE: DNMR) has appointed Richard Altice as Interim CEO, effective immediately. Altice, a current Danimer director and former CEO of NatureWorks, succeeds Stephen Croskrey, who is retiring after eight years as CEO. Croskrey will serve as a Special Advisor until year-end to support the transition.
The Board's Executive Committee is leading the search for a permanent CEO, considering both internal and external candidates. Danimer also reported preliminary Q3 2024 PHA revenue of $6.7 million, an increase of $0.8 million from Q2 2024. The company maintains its forecast of tripling annualized PHA revenues by the end of Q2 2025, based on existing customer relationships and indicated volumes.
Danimer Scientific (NYSE: DNMR) and Ningbo Homelink Eco-iTech have commercially launched home compostable extrusion coating biopolymers for paper cups, using Danimer's signature polyhydroxyalkanoate (PHA), Nodax®. These PHA-lined cups offer a sustainable alternative to traditional paper cups, being both home and industrially compostable, as well as fully repulpable.
The cups have been certified by TÜV as home compostable, by BPI as commercially compostable, and have passed the first phase of Western Michigan University's repulpability/recyclability test. They are now proceeding with full certification for recyclability in paper systems.
Homelink, a leading manufacturer of disposable tableware, will produce these cups in their new extrusion facility in Thailand. This partnership aims to provide consumers with an environmentally friendly option that can be disposed of in home compost bins or backyard compost piles, as well as through established commercial composting programs.
Danimer Scientific (NYSE: DNMR) has been awarded $1.36 million by the U.S. Department of Defense through the Distributed Bioindustrial Manufacturing Program (DBIMP). The funding is for developing plans to produce biobased polyols for high-performance coatings used on ships, marine vessels, and steel piping. These coatings are said to have superior properties compared to petroleum-based alternatives.
Upon completing the current project, Danimer may be eligible for a follow-on award of up to $100 million to construct a U.S.-based manufacturing facility. This initiative is part of the White House's Executive Order 14081, which aims to strengthen America's bioeconomy and enhance the Department of Defense's capabilities. The funding is provided under the Defense Industrial Base Consortium (DIBC) Other Transaction Agreement (OTA).
Eagle Beverage, a leading manufacturer of PHA-based straws, has opened its first PHA Injection Molding manufacturing plant for producing sustainable single-use cutlery. The company has successfully commercialized Danimer Scientific's Nodax PHA resins to manufacture forks, knives, and spoons, and has begun shipping these products to customers.
Eagle Beverage, which previously commercialized Starbucks PHA-based straws in North America, has been awarded a share of the PHA-based cutlery business from a major quick-service restaurant chain. The new facility significantly increases production capacity to meet growing demand for home compostable cutlery. This development marks a significant step towards reducing plastic waste and promoting a circular economy.
