Danimer Scientific, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2021
May 17, 2021 at 04:05 pm EDT
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Danimer Scientific, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2021. For the quarter, the company reported total revenue of $13,181,000 against $10,598,000 a year ago. Loss from operations was $11,283,000 against $1,058,000 a year ago. Net loss was $94,734,000 or $1.12 per basic and diluted share against $1,681,000 or $0.06 per basic and diluted share a year ago.
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. 
