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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) will announce its fourth quarter and full year 2021 financial results on February 28, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern time to discuss the results and recent events, including a Q&A session. Danimer specializes in biodegradable materials, holding over 390 patents for its renewable biopolymers, which are used in various plastic products. The company aims to reduce environmental pollution through its innovative approach to bioplastics.
Danimer Scientific (NYSE: DNMR) released its 2021 Environmental, Social and Governance (ESG) Report, emphasizing its commitment to sustainable bioplastics. The report aligns with the United Nations Sustainable Development Goals and highlights key initiatives including significant industry collaborations and a responsible supply chain. Over 97% of materials used are sourced from sustainable suppliers. Additionally, Danimer is focused on diverse hiring practices and has strong board oversight. CEO Stephen Croskrey reiterated the company's dedication to environmental and economic prosperity.
Danimer Scientific (NYSE: DNMR) has announced a strategic partnership with Hyundai Oilbank to expand the commercial applications of polyhydroxyalkanoate (PHA) in South Korea and other Asian markets. This collaboration aims to promote Danimer's sustainable biopolymer, Nodax®, for single-use packaging. The companies plan to leverage their resources to drive global growth opportunities for PHA manufacturing. Danimer's CEO emphasizes the need for global cooperation to combat plastic waste, while Hyundai Oilbank’s leadership highlights the environmental benefits of biodegradable materials.
Danimer Scientific has appointed Michael Hajost as the new Chief Financial Officer, effective March 2022. He will succeed Jad Dowdy, who transitions to Senior Vice President of Financial Planning and Analysis. Hajost brings over 30 years of experience, previously serving as CFO for Strategic Materials and Accuride Corporation, where he significantly increased revenues. The management change aims to strengthen Danimer’s financial strategies as it aims to capitalize on the growing bioplastics market.
Danimer Scientific (NYSE: DNMR) announced that its management will participate in the CJS Securities 22nd Annual New Ideas for the New Year Conference on January 12, 2022. Danimer is a leader in biodegradable bioplastics, dedicated to creating sustainable plastic products. With over 390 patents worldwide, its innovations include biodegradable materials for various applications, significantly reducing environmental pollution. This conference showcases Danimer's commitment to sustainability and its strategic direction in the bioplastics industry.
Danimer Scientific (NYSE: DNMR) has priced a private offering of $200 million in 3.250% convertible senior notes due 2026, up from a previously announced $175 million. The offering is set to settle on December 21, 2021. The notes will mature on December 15, 2026, and they will have a conversion price of approximately $10.79 per share, a 27.5% premium over the last reported share price of $8.46. Net proceeds are estimated at $191.9 million, aimed at general corporate purposes and capped call transactions.
Danimer Scientific (NYSE:DNMR) announced its intention to offer $175 million in aggregate principal of convertible senior notes due 2026, subject to market conditions. The offering includes an option for initial purchasers to acquire an additional $26.25 million. The notes mature on December 15, 2026, and will accrue interest payable semi-annually. Proceeds will fund capped call transactions and general corporate purposes. Danimer also warned that forward-looking statements carry risks and uncertainties which could impact future performance.
Danimer Scientific, a leader in biodegradable materials, announced participation in the virtual Citi 2021 Global Basic Materials Conference on December 1, 2021. The company has been at the forefront of sustainable bioplastic production for over a decade, focusing on biopolymers that are compostable and environmentally friendly. Danimer holds over 390 patents worldwide, demonstrating its innovation in this field. The conference will highlight Danimer's contributions and future potential in the bioplastics sector.
Danimer Scientific (NYSE: DNMR) reported its Q3 2021 financial results, showing a 4% revenue increase to $13.4 million, largely driven by a 10% rise in product revenue. PHA-based sales surged 180% year-over-year, contributing to 32% of total revenue. However, gross profit declined to $(0.2) million from $3.6 million in Q3 2020. Net income included a non-cash gain of $28.4 million. The company is expanding its Kentucky facility and plans to break ground on a new facility in Bainbridge, GA, later this month. Full-year capex is projected between $200-210 million.
Danimer Scientific (NYSE: DNMR) has partnered with Total Corbion PLA to enhance biopolymer production through the supply of Luminy® PLA, a biobased polymer. This strategic collaboration enables Danimer to scale its commercial production of Nodax®, facilitating a blend of PLA and PHA inputs to meet diverse customer needs. CEO Stephen E. Croskrey emphasized that this partnership supports both long-term growth and immediate customer demands. With increasing market demands for biodegradable innovations, this collaboration aims to secure supply and diversify applications across various industries.
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