Danimer Scientific, TotalEnergies Corbion Announce EU-Compliant Compostable Coffee Pod Biopolymer

Rhea-AI Summary

Danimer Scientific (NYSE: DNMR) and TotalEnergies Corbion have developed a new compostable coffee pod biopolymer that complies with proposed EU packaging regulations. This innovative formulation combines Danimer’s Nodax® and TotalEnergies’ Luminy® PLA material, which has been certified by TUV as home compostable. With an estimated 550 million pounds of plastic used for single-use coffee pods in Europe annually, this collaboration aims to address the problem of plastic waste. The product is currently being tested in the market by European companies. CEO Stephen Croskrey will also ring the closing bell at the New York Stock Exchange to celebrate the announcement and mark the beginning of Earth Week.

Positive

• New compostable coffee pod biopolymer developed with TotalEnergies Corbion.
• Certification by TUV as home compostable.
• Addresses estimated 550 million pounds of annual plastic use in Europe.

Negative

• None.

New formulation has been certified by TUV as home compostable

BAINBRIDGE, Ga.--(BUSINESS WIRE)-- Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”) and TotalEnergies Corbion, both leading bioplastics companies focused on the development and production of biodegradable materials, today announced that they have developed a new compostable coffee pod biopolymer that is in compliance with proposed EU packaging regulations.

The EU recently announced a proposal requiring plastic packaging such as tea bags, coffee pods, very light plastic bags and sticky labels for fruit and vegetables to be compostable. Danimer and TotalEnergies Corbion’s new formulations, containing a blend of Danimer’s signature polyhydroxyalkanoate (PHA) Nodax® and TotalEnergies Corbion’s Luminy® High Heat polylactic acid (PLA) material, have already passed biodegradability tests and have been certified by TUV as home compostable. They are currently being tested in the market by numerous European companies.

Danimer has estimated that, in the European market, 550 million pounds of plastic are used in the manufacture of single-use coffee pods annually.

“Since beginning our collaborative partnership with TotalEnergies Corbion a couple of years ago, we’ve been working to blend together our respective materials, Nodax® and Luminy®, to meet the specific functionality needs of our customers for a variety of applications,” said Scott Tuten, chief marketing and sustainability officer of Danimer Scientific. “We support the EU’s proposed new regulations as a necessary first step in addressing the problem of plastic waste, and we’re pleased to be offering our compostable coffee pod biopolymer as one example of how the technology behind bioplastics has evolved to serve the needs of manufacturers, regulators and consumers as the world moves toward a cleaner and more responsible future.”

In 2021, Danimer and TotalEnergies Corbion entered into a long-term collaborative arrangement for the supply of Luminy® PLA, a biobased polymer used to manufacture compostable products.

“We’re excited about the potential of compostable bioplastics to provide an environmentally friendly alternative to single-use petrochemical plastics, and we hope that the coffee pod biopolymer we’ve developed in partnership with Danimer Scientific will be the first of many collaborations to come,” said Thomas Philipon, CEO of TotalEnergies Corbion.

Coinciding with this announcement, Stephen Croskrey, chairman and chief executive officer of Danimer Scientific, will be ringing the closing bell at the New York Stock Exchange today, Monday, April 17, to mark the beginning of Earth Week.

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.

About TotalEnergies Corbion

TotalEnergies Corbion (formerly known as Total Corbion PLA) is a global technology leader in Poly Lactic Acid (PLA) and lactide monomers. PLA is a biobased and biodegradable polymer made from annually renewable resources, offering a reduced carbon footprint versus traditional plastics. The Luminy® PLA portfolio, which includes both high heat and standard PLA grades, is an innovative material that is used in a wide range of markets from packaging to consumer goods, fibers and automotive. TotalEnergies Corbion, headquartered in the Netherlands, operates a 75,000 tons per year PLA production facility in Rayong, Thailand and has recently announced the intention to build a second plant in Grandpuits, France. The company is a 50/50 joint venture between TotalEnergies and Corbion. www.totalenergies-corbion.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/20230417005337/en/

For Danimer:

Investors

James Palczynski

ir@danimer.com

415-876-8429

Media

Jonathan Houghton

jhoughton@daltonagency.com

615-515-4892

Source: Danimer Scientific, Inc.

FAQ

What is the new compostable product announced by Danimer Scientific?

Danimer Scientific has announced a new compostable coffee pod biopolymer developed in collaboration with TotalEnergies Corbion.

What certifications has the new coffee pod biopolymer received?

The new coffee pod biopolymer has been certified by TUV as home compostable.

How does Danimer's new product comply with EU regulations?

The new biopolymer meets the proposed EU regulations that require plastic packaging for items like coffee pods to be compostable.

When was the new biopolymer announced by Danimer Scientific?

The announcement was made on April 17, coinciding with the beginning of Earth Week.

What will Danimer's CEO do to celebrate the announcement?

CEO Stephen Croskrey will ring the closing bell at the New York Stock Exchange.