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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) has announced it will release its third quarter 2021 financial results on November 15, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss the results and recent events. The call can be accessed through the Investor Relations section of their website or by phone. Danimer focuses on developing biodegradable materials and holds over 390 patents following its acquisition of Novomer.
WinCup, based in Atlanta, has partnered with the Atlanta Falcons to introduce phade®, the first marine biodegradable drinking straws and stirrers, at Mercedes-Benz Stadium starting August 2021. These products are made from PHA, a biodegradable resin, aimed at reducing plastic pollution in the sports industry. The partnership reflects a growing demand for sustainable alternatives to traditional plastics. Mercedes-Benz Stadium, which holds a LEED Platinum certification, aims to boost its sustainability initiatives through this collaboration. WinCup has received awards for phade®'s innovative approach to eco-friendly products.
Danimer Scientific (NYSE: DNMR) has announced a collaboration with CPChem to explore a loop slurry reactor design for the production of Rinnovo™, a biodegradable material. This collaboration aims to enhance the efficiency of manufacturing by potentially increasing production volumes while lowering costs. If successful, this new design could significantly optimize Danimer's production process, aligning with their commitment to sustainability and reducing plastic waste. CEO Stephen E. Croskrey emphasized the importance of this collaboration for meeting customer needs and minimizing environmental impacts.
Danimer Scientific, Inc. (NYSE: DNMR) addresses misconceptions from a recent short-seller report by Muddy Waters. CEO Stephen E. Croskrey criticizes the report as misleading, asserting that Danimer is enhancing its business through strategic capacity and cost improvements. The company reported production capacity figures from its Kentucky facility, stating it currently operates at approximately 55% capacity. Future expansion plans include adding 45 million pounds of finished product capacity by Q2 2022. Danimer has established partnerships with major brands, seeking to provide biodegradable alternatives to traditional plastics.
Danimer Scientific (NYSE: DNMR) has announced the appointment of Deborah McRonald as Chief Corporate Development Officer. McRonald brings extensive experience from her previous roles at Nestlé and Wyeth Nutrition, where she led business development and technology licensing initiatives.
Her primary focus will be on fostering external collaborations and joint ventures aimed at driving revenue growth and reducing plastic waste globally. The company's growth strategy emphasizes partnerships that enhance market applications, aligning with Danimer’s mission of sustainability.
Danimer Scientific (NYSE: DNMR) has received a $400,000 grant from the United Soybean Board to further evaluate high-oleic soybean oil (HOSO) as a feedstock for producing polyhydroxyalkanoate (PHA), a biodegradable alternative to plastics. This new phase builds on a successful first year project that established HOSO's viability. The project aims to commercialize HOSO for PHA production, which is used in various products like straws and bottles. The collaboration underscores Danimer's commitment to sustainable materials amid rising demand for biodegradable solutions.
Danimer Scientific, Inc. (NYSE: DNMR) reported a 22% revenue increase to $14.5 million in Q2 2021, driven by PHA production growth. The company completed its Kentucky debottlenecking initiative and closed the acquisition of Novomer, aiming to enhance biodegradable product manufacturing. Despite a decline in gross profit to $2.0 million, adjusted EBITDA showed a loss of $2.7 million. Danimer expects to improve operating rates and cash flow in the second half of 2021, with capital expenditures projected between $125 million and $150 million. A conference call will be held on August 16, 2021.
Danimer Scientific (NYSE: DNMR) announced the acquisition of Novomer for $152 million. This acquisition enhances Danimer's capabilities in developing biodegradable materials by integrating Novomer's low carbon input conversion technology. The deal includes a research center and pilot plant in New York, along with Novomer's library of 240 patents. CEO Stephen Croskrey emphasized that this move boosts economic value and reduces risks tied to commodity inputs. The acquisition aims to support Danimer's expansion in consumer packaging and other applications to meet market demand.
Danimer Scientific (NYSE: DNMR) has signed a definitive agreement to acquire Novomer, Inc. for $152 million in cash. This strategic acquisition aims to enhance Danimer's capabilities in biodegradable materials by incorporating Novomer's proprietary technology, notably p(3HP), into Danimer's production processes. The merger is expected to reduce capital expenditures while increasing production efficiency and product offerings. Both companies' Boards have approved the transaction, which is anticipated to close in Q3 2021, subject to regulatory approvals.
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