Danimer Scientific, Inc. Announces Executive Changes
July 28, 2021 at 04:15 pm EDT
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Danimer Scientific, Inc. (‘Danimer’ or the ‘Company’) announced that it has signed a definitive agreement to acquire Novomer, Inc. (‘Novomer’), in a cash transaction valued at $152 million. Each company’s Board of Directors has approved the transaction. Novomer’s Chief Executive Officer, Jeff Uhrig, will report to Danimer CEO Stephen E. Croskrey and will continue to lead the Novomer team in coordination with Danimer’s senior leadership.
Danimer Scientific, Inc. is a performance polymer company. The Company specializes in bioplastic replacements for traditional petroleum-based plastics. Its technologies include Polyhydroxyalkanoate (PHA)-based Resins, Polylactic acid (PLA)-based Resins and Rinnovo. It harvests the PHA from the bacteria, then purifies and filters the bioplastic before forming the non-formulated PHA into pellets. Its PHA is a naturally occurring bioplastic that effectively biodegrades in both anaerobic environments, such as a waste treatment facility, and aerobic environments. It sells the PHA under its proprietary Nodax brand name. PLA is made from dextrose derived from corn, sugar beets and sugar cane, among other sources. Applications for biopolymers include additives, aqueous coatings, fibers, filaments, films, thermoforming, and injection-molded articles. The Company primarily markets its products to consumer packaging brand owners, converters and manufacturers in the plastics industry.
DANIMER SCIENTIFIC, INC. 
