Danimer Scientific CEO Stephen Croskrey to Take Part in White House-Hosted Summit on Biotechnology and Biomanufacturing

Rhea-AI Summary

Danimer Scientific, Inc. (NYSE: DNMR) CEO Stephen Croskrey participated in a White House Summit today on Biotechnology & Biomanufacturing for the American Bioeconomy. This summit highlights efforts to develop bio-based solutions amid President Biden's executive order launching a National Biotechnology Initiative. Croskrey emphasized Danimer's commitment to environmentally friendly products, targeting the plastic waste crisis. Biotechnology could make up over a third of global manufacturing output by the decade's end, representing nearly $30 trillion in value.

Positive

• Croskrey's participation in a high-level summit may enhance Danimer's visibility and credibility in the biotechnology sector.
• The summit aligns with President Biden's initiative, potentially opening doors for government support and funding.

Negative

• None.

Croskrey will join a panel on biomanufacturing for the bioeconomy

BAINBRIDGE, Ga.--(BUSINESS WIRE)-- Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”) chief executive officer Stephen Croskrey will be taking part in a high-level Summit on Biotechnology & Biomanufacturing for the American Bioeconomy, being hosted today by the White House Administration.

The summit, which will be livestreamed here, celebrates the vision, innovation and dedication across the United States to developing bio-based solutions to global challenges facing the country, and is being held in conjunction with President Biden’s Sept. 12, 2022, executive order launching a National Biotechnology and Biomanufacturing Initiative to ensure that products invented in the United States can be manufactured here as well. The president also recently signed the landmark CHIPS & Science Act, which makes historic investments to strengthen American manufacturing, research and development, science and technology.

At the summit, Croskrey will take part in a panel on biomanufacturing for the bioeconomy. The summit will also include a high-level roundtable with members of Congress, cabinet secretaries, and other industry and academic leaders, as well as a panel on biotechnology research and development to solve pressing challenges.

“I’m honored to be included in this summit on behalf of Danimer Scientific and the bioplastics industry,” Croskrey said. “Since our company’s founding in 2004, Danimer has been laser-focused on finding environmentally friendly, economically feasible solutions to the ever-growing plastic waste crisis. I look forward to working with the White House Administration to advance President Biden’s executive order and to continue developing and producing biodegradable products to reduce humans’ impact on our environment.”

Biotechnology utilizes microbes to make specialty chemicals and compounds in a process called biomanufacturing, which is increasingly being embraced as an alternative to petrochemical-based production to make plastics, fuels, materials and medicines. According to industry analysis, bioengineering could account for more than a third of global output of manufacturing industries before the end of the decade — almost $30 trillion in value.

For more information, please visit www.DanimerScientific.com.

About Danimer Scientific

Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection-molded articles, among others. Danimer holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.DanimerScientific.com.

Forward‐Looking Statements

Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof; risks relating to the uncertainty of the projected financial information with respect to the Company; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to our products; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact on our business, operations and financial results from the ongoing conflict in Ukraine; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005345/en/

For Danimer:

Investors

ir@danimer.com

Phone: 229-220-1103

Media

Anthony Priwer

apriwer@daltonagency.com

Phone: 615-515-4891

Source: Danimer Scientific, Inc.

FAQ

What was discussed at the Danimer Scientific CEO's White House summit appearance?

Stephen Croskrey discussed the importance of biomanufacturing solutions to combat plastic waste and promote environmental sustainability.

How does the summit align with President Biden's initiatives?

The summit supports Biden's executive order for a National Biotechnology Initiative, aiming to enhance American manufacturing of bio-based products.

What is the significance of biomanufacturing for Danimer Scientific?

Biomanufacturing represents a critical shift toward sustainable production, aligning with Danimer's mission to innovate biodegradable plastics.

What is the potential market impact of biotechnology according to industry analysts?

Industry analysis suggests biotechnology could account for over a third of global manufacturing output, valued at nearly $30 trillion.

What is Danimer Scientific's approach to environmental issues?

Danimer is focused on creating biodegradable and compostable products to address the plastic waste crisis.