Welcome to our dedicated page for Danimer Scientific news (Ticker: DNMR), a resource for investors and traders seeking the latest updates and insights on Danimer Scientific stock.
Danimer Scientific, Inc. (DNMR) is a leading innovator in the bioplastics industry, specializing in the production of sustainable and renewable biopolymers. Located in Bainbridge, Georgia, Danimer is at the forefront of developing biodegradable and compostable polymers, notably Polyhydroxyalkanoates (PHA) under the proprietary brand name, Nodax.
This innovative company transforms natural, renewable resources, such as cold-pressed canola oil, into high-performance bioplastics. These bioplastics match or surpass the quality and cost-effectiveness of traditional petroleum-based plastics, offering a greener alternative that reduces environmental impact.
Danimer's products are capable of biodegrading in environments such as soil, freshwater, and marine waters, thereby helping to combat plastic pollution. The company's technology is utilized in a broad range of applications, including additives, aqueous coatings, fibers, filaments, films, and injection-molded articles.
Beyond its core business of biopolymer production, Danimer also provides specialty toll manufacturing services. This includes access to state-of-the-art production equipment, advanced laboratories, comprehensive material handling and logistics, and a team of experienced, trained personnel.
The company's operations are not confined to the United States, although it remains the primary market. Danimer also has a significant presence in Europe, including Germany, Poland, and Belgium.
Danimer's continuous efforts in innovation and sustainability have earned it numerous partnerships with global brands looking to incorporate environmentally responsible materials into their products. With a commitment to reducing the world's reliance on non-renewable resources, Danimer is paving the way towards a more sustainable future.
Danimer Scientific (NYSE: DNMR) announced the completion of a $130 million senior secured term loan to enhance liquidity and support its growth strategy. The loan will provide a net increase of $86.1 million in liquidity, vital for corporate operations. The company's preliminary results for 2022 show revenues of $53.2 million, down from $58.7 million in 2021, resulting in a net loss of $(180) million, which included a $(63) million goodwill impairment. The firm will report its detailed financial results on
Danimer Scientific, Inc. (NYSE: DNMR) has been recognized by the state of Kentucky for its innovative contributions to the biobased products industry during National Biobased Products Day on March 8. Katie Smith from the Kentucky Cabinet for Economic Development presented the proclamation at Danimer's Winchester facility, highlighting the company's commitment to sustainable bioplastics. The Winchester site is noted as the world's first commercial production facility for FDA-approved Nodax®, a fully biodegradable material suitable for food contact applications. Danimer's bioplastics are already utilized in popular U.S. chains like Starbucks and Costco.
Danimer Scientific (NYSE: DNMR) commends Jacksonville for launching a six-month pilot program to provide organics recycling services to local restaurants. This initiative, initiated on March 1, 2023, aims to enhance organic waste management through collaboration with Sunshine Organics and Compost. Danimer advocates for broader composting programs, underscoring their role in reducing landfill waste and supporting environmental sustainability. The program seeks to convert food waste into nutrient-rich compost, thus mitigating greenhouse gas emissions. National Biobased Products Day, celebrated on March 8, 2023, further emphasizes the benefits of biobased products to the economy.
Danimer Scientific (NYSE: DNMR) VP Keith Edwards participated in the Sustainable Chemistry in R&D to Transform the Chemicals Industry Roundtable in Arlington, Virginia. This event aimed to address the decarbonization of the chemicals sector and promote environmental justice. Edwards emphasized the importance of renewable biopolymers in achieving the Biden Administration's target of net-zero greenhouse gas emissions by 2050. He highlighted the chemicals industry's significant role in CO2 emissions and the need for innovation and federal investment to support sustainable chemistry technologies. Danimer aims to enhance its renewable biopolymers for a circular economy.
Danimer Scientific, Inc. (NYSE: DNMR) reported third quarter 2022 revenues of $10.4 million, driven by a 26% increase in PHA-based product sales, which represented 51% of total revenue. Despite this growth, the company faced a net loss of $94.9 million, primarily due to a $62.7 million goodwill impairment charge. Adjusted gross profit decreased to $(0.8) million, impacted by reduced PLA resin sales and heightened fixed costs. Danimer anticipates 2022 Adjusted EBITDA will range from $(45) million to $(40) million, while capital expenditures are expected between $165 million and $170 million.
Danimer Scientific (NYSE: DNMR) announced that its management will participate in the Baird Global Industrial Conference in Chicago, IL, on November 9, 2022. As a leader in bioplastics, Danimer focuses on producing biodegradable materials that offer sustainable alternatives to traditional plastics. With over 430 patents, the company's biopolymers are used across various applications, including films and injection-molded products. The firm emphasizes its commitment to sustainability and innovation in the plastic industry.
Danimer Scientific (NYSE: DNMR) will release its third quarter 2022 financial results on November 8, 2022, after market close. A conference call and webcast to discuss these results will be held at 5:00 p.m. Eastern Time the same day. Danimer focuses on biodegradable materials, offering a range of sustainable biopolymers used in various applications. The company holds over 430 patents in multiple countries. For participation, access details are provided on the company’s Investor Relations website.
Danimer Scientific (NYSE: DNMR) has appointed Stephen Martin as Chief Legal Officer and Corporate Secretary. Martin, a Duke University graduate and former Air Force officer, will oversee legal affairs as the company expands its manufacturing capacity in the growing bioplastics market. Previously, he served as General Counsel for Kaman Distribution Group and Accuride Corporation. Chairman Stephen E. Croskrey emphasized the importance of Martin's experience in managing legal matters for publicly traded companies in Danimer's ongoing transition towards sustainable biopolymers.
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.
Danimer Scientific (NYSE: DNMR), a leader in bioplastics, announced its participation in the Credit Suisse 35th Annual Specialties and Basics Conference in New York, NY, on September 14, 2022. The company focuses on sustainable biopolymers that are biodegradable and compostable. With over 430 patents across 20 countries, Danimer aims to reduce environmental pollution from plastic products. Their technology supports various applications, including films, coatings, and fibers, contributing to a cleaner planet.
FAQ
What is the current stock price of Danimer Scientific (DNMR)?
What is the market cap of Danimer Scientific (DNMR)?
What does Danimer Scientific, Inc. do?
Where is Danimer Scientific located?
What are Danimer Scientific's bioplastics made from?
What are the applications of Danimer's biopolymers?
Are Danimer's products biodegradable?
Does Danimer Scientific operate internationally?
What is the Nodax brand?
What additional services does Danimer offer?
Who are Danimer's customers?
What makes Danimer’s bioplastics cost-effective?
