Danimer Scientific and Chevron Phillips Chemical Collaborate to Develop Technology for Lower-Cost Biodegradable Polymer Manufacturing
September 22 2021 - 8:00AM
Business Wire
Implementation of technology that transformed
polyolefin production expected to drive higher-volume Rinnovo™
production at lower overall costs
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 is collaborating with Chevron Phillips Chemical
(“CPChem”) to explore a loop slurry reactor design for the
manufacture of Rinnovo™. Rinnovo™ is a type of polyhydroxyalkanoate
(“PHA”) synthesized from lactones produced using Danimer’s
proprietary Novo22™ catalyst technology that can be used in the
production of biodegradable alternatives to traditional
plastics.
Through this collaboration, Danimer will evaluate the use of
CPChem’s loop slurry reactor design to develop a continuous reactor
system in the manufacturing process for Rinnovo™. If successful,
this reactor design is expected to increase utilization of future
manufacturing plants, drive higher production volumes and lower
overall costs, as compared to the polymerization reactor design
currently used in the production of Rinnovo™.
Stephen E. Croskrey, Chief Executive Officer of Danimer, said,
“CPChem’s loop slurry technology is one of the world’s most
renowned processes for producing polyolefins efficiently and
economically. This collaboration enhances our strategy of
accelerating the production of our biodegradable polymers to better
serve our customers and reduce the environmental impacts of plastic
waste.”
First introduced in 1961, CPChem’s loop slurry processes produce
a wide range of resins for a variety of applications. Today, the
technology, through CPChem and its licensees, accounts for a
significant portion of high-density polyethylene production
worldwide. Jim Telljohann, Senior Vice President, Research &
Technology of CPChem noted that, “This collaboration with Danimer
is illustrative of CPChem’s commitment to advance programs in
support of our product sustainability, circularity and climate
efforts.”
Jeff Uhrig, General Manager and President of Danimer Scientific
Catalytic Processes, said, “As the proven industry standard of
efficient, reliable polyethylene production for 60 years, CPChem’s
loop slurry design is believed to be well suited to provide similar
benefits for the production of Rinnovo™.”
For more information on Danimer Scientific, 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. After the acquisition of
Novomer, 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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