Danimer Scientific Receives Grant from United Soybean Board to Expand Research of High-Oleic Soybean Oil in Biodegradable Plastic Production
September 08 2021 - 8:00AM
Business Wire
$400,000 grant to support up-scaling of
feedstock grown exclusively in the United States as a more
cost-effective input for the manufacture of polyhydroxyalkanoate
(PHA)
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the
“Company”), a leading next generation bioplastics company focused
on the development and production of biodegradable materials, today
announced it has received a $400,000 grant from the United Soybean
Board to expand the Company’s evaluation of high-oleic soybean oil
(HOSO) as a feedstock in the production of polyhydroxyalkanoate
(PHA), a sustainable biopolymer that serves as a biodegradable
alternative to traditional plastic.
The grant marks the continuation of Danimer’s collaboration with
the United Soybean Board after the successful completion of a
one-year project to develop a practical model for using HOSO as a
feedstock in manufacturing Nodax®, Danimer’s signature PHA, which
is used to create a wide variety of products, including straws,
bottles, and flexible film packaging. The second year of the
project will focus on scaling up the use of HOSO on a commercial
level.
“HOSO is readily available material in the United States, likely
making it a viable and cost-effective feedstock in the production
of Nodax®,” said Phil Van Trump, Chief Science and Technology
Officer of Danimer. “We are pleased with the results of our first
year collaborating with the United Soybean Board, and we thank them
for their continued partnership in finding sustainable ways to meet
rising demand for biodegradable products.”
High-oleic soybeans are grown exclusively in the U.S., and the
oil produced from the crop provides increased functionality and
improved shelf life for applications across the food and
manufacturing industries.
“The first year of our research has produced excellent results
that show HOSO is a viable feedstock in the manufacture of Nodax®,”
said Carol Leggett, PhD, Director of Microbiology at Danimer. “As
we continue to expand the commercial production of Nodax®, HOSO is
expected to serve as a valuable tool to strengthen our supply chain
and bottom line. The progress we’ve made to this point would not
have been possible without the collaboration of the Omni Tech
International, SmithBucklin, and the United Soybean Board and their
farmer members.”
“Our 78 volunteer farmer-directors work on behalf of all soybean
farmers to achieve maximum value for their investments and increase
preference for U.S. soy, so we are excited to continue working with
Danimer to drive soybean innovation,” said United Soybean Board
farmer-director Ed Lammers.
For more information on Danimer, visit
www.DanimerScientific.com.
About Danimer Scientific Danimer is a pioneer in creating
more sustainable, more natural ways to make plastic products. For
more than a decade, its renewable and sustainable biopolymers have
helped create plastic products that are biodegradable and
compostable and return to nature instead of polluting our lands and
waters. Danimer’s technology can be found in a vast array of
plastic end products that people use every day. Applications for
its biopolymers include additives, aqueous coatings, fibers,
filaments, films and injection-molded articles, among others.
Danimer now holds more than 390 granted patents and pending patent
applications in more than 20 countries for a range of manufacturing
processes and biopolymer formulations. For more information, visit
www.DanimerScientific.com.
Forward-Looking Statements Please note that in this press
release we may use words such as “appears,” “anticipates,”
“believes,” “plans,” “expects,” “intends,” “future,” and similar
expressions which constitute forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are made
based on our expectations and beliefs concerning future events
impacting the Company and therefore involve a number of risks and
uncertainties. We caution that forward-looking statements are not
guarantees and that actual results could differ materially from
those expressed or implied in the forward-looking statements.
Potential risks and uncertainties that could cause the actual
results of operations or financial condition of the Company to
differ materially from those expressed or implied by
forward-looking statements in this release include, but are not
limited to, the overall level of consumer demand on our products;
general economic conditions and other factors affecting consumer
confidence, preferences, and behavior; disruption and volatility in
the global currency, capital, and credit markets; the financial
strength of the Company's customers; the Company's ability to
implement its business strategy, including, but not limited to, its
ability to expand its production facilities and plants to meet
customer demand for its products and the timing thereof; risks
relating to the uncertainty of the projected financial information
with respect to the Company; the ability of the Company to execute
and integrate acquisitions; changes in governmental regulation,
legislation or public opinion relating to our products; the
Company’s exposure to product liability or product warranty claims
and other loss contingencies; disruptions and other impacts to the
Company’s business, as a result of the COVID-19 global pandemic and
government actions and restrictive measures implemented in
response; stability of the Company’s manufacturing facilities and
suppliers, as well as consumer demand for our products, in light of
disease epidemics and health-related concerns such as the COVID-19
global pandemic; the impact that global climate change trends may
have on the Company and its suppliers and customers; the Company's
ability to protect patents, trademarks and other intellectual
property rights; any breaches of, or interruptions in, our
information systems; the ability of our information technology
systems or information security systems to operate effectively,
including as a result of security breaches, viruses, hackers,
malware, natural disasters, vendor business interruptions or other
causes; our ability to properly maintain, protect, repair or
upgrade our information technology systems or information security
systems, or problems with our transitioning to upgraded or
replacement systems; the impact of adverse publicity about the
Company and/or its brands, including without limitation, through
social media or in connection with brand damaging events and/or
public perception; fluctuations in the price, availability and
quality of raw materials and contracted products as well as foreign
currency fluctuations; our ability to utilize potential net
operating loss carryforwards; and changes in tax laws and
liabilities, tariffs, legal, regulatory, political and economic
risks. More information on potential factors that could affect the
Company's financial results is included from time to time in the
Company's public reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
All forward-looking statements included in this press release are
based upon information available to the Company as of the date of
this press release, and speak only as of the date hereof. We assume
no obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release.
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For Danimer: Investors ir@danimer.com Phone:
229-220-1103
Media Anthony Popiel apopiel@daltonagency.com Phone:
404-876-1309
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