Danimer Scientific

Danimer Scientific produces sustainable biopolymers for biodegradable and compostable plastic products. The company’s technology can already be found in a range of products and components such as additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among other plastic substitutes. The company’s proprietary Nodax polyhydroxyalkanoate (PHA) packaging solution is produced through a natural fermentation process using biodegraded plant oils such as soy and canola. All of Danimer Scientific’s biopolymers including Nodax PHA are FDA approved for food contact.

As of  January  2022, the company held more than 390 granted patents and pending patent applications in approximately 20 countries for a range of manufacturing processes and biopolymer formulations. 

The company has also collaborated with key manufacturers and consumer product companies—including PepsiCo, Nestlé, and Bacardi, among others—to introduce sustainable solutions for straws, food and beverage containers, and flexible packaging. In March 2021, the company entered into a two-year partnership with Mars Wrigley, a multinational confectionery manufacturer to introduce compostable packaging for its “Skittles” brand. In January 2022 , Danimer signed a memorandum of understanding with Hyundai Oilbank for the commercial development of PHA. The short-term focus of this partnership included marketing Nodax PHA to the South Korean market for new applications including single-use packaging materials. 

In March 2021, Danimer Scientific announced plans to invest USD 700 million to build a 2 million sq. ft. facility in Georgia to expand the production of biobased polymer polyhydroxyalkanoate (PHA). The expansion will quadruple the company’s workforce of 100 employees.

Danimer Scientific reported revenue of USD 53.2 million for FY2022 , down 9.4% YoY from 2021 and adjusted EBITDA loss of USD 45 million. The company’s guidance for FY 2023 expects adjusted EBITDA to be between a loss of USD 23 million and a loss of USD 31 million.

In March 2023 , the company secured a senior-secured term loan of USD 130 million, arranged by investment bank Jefferies to expand the company's capital structure, enhance its liquidity position in the near term, and provide greater strategic and operational flexibility to execute its growth strategy.