Danimer Scientific, Inc. Acquires Novomer
Danimer Scientific, Inc. is a leading next generation bioplastics company who’s work focuses on developing novel biodegradable materials. They spent the first half of 2021 expanding their mission to create biodegradable consumer packaging and products, resulting in some successful financial results for their second quarter.
The development of biodegradable packaging has the potential to address global plastic waste cris. Their team completed their Kentucky debottlenecking initiative as they work to improve production efficiency for Nodax based resins. In August, they closed on the acquisition of Novomer, Inc. Novomer is a leading developer of carbon efficient conversion catalyst and intelligent process design technologies. This acquisition aims to accelerate the development and production of their proprietary packaging products.
The addition of Novomer is expected to meaningfully reduce Danimer’s planned capital expenditures on a per-pound basis. Danimer believes that Rinnovo is highly complementary with Danimer’s inputs, and can be incorporated as a component in certain Danimer resins. PHA’s are a broad family of polymers which can be used for a multitude of applications wherein each can provide specific benefits. By incorporating Rinnovo into its customer solutions, Danimer expects to be able to produce its resins at a substantially lower average cost. Danimer expects to use these complementary technologies to meet an even broader range of customer needs and applications.
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