Implementation of technology that has transformed polyolefin production is expected to lead to higher volume production of Rinnovo â¢ at lower overall costs
BAINBRIDGE, Georgia, September 22, 2021– (COMMERCIAL THREAD) – Danimer Scientific, Inc. (NYSE: DNMR) (âDanimerâ or the âCompanyâ), a leading next-generation bioplastics company focused on the development and production of biodegradable materials, today announced its collaboration with Chevron Phillips Chemical (“CPChem”) to explore a loop suspension reactor design for the manufacture of Rinnovo â¢. Rinnovo â¢ is a type of polyhydroxyalkanoate (âPHAâ) synthesized from lactones produced using Danimer’s patented Novo22 â¢ 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 suspension reactor design to develop a continuous reactor system in the Rinnovo â¢ manufacturing process. If successful, this reactor design is expected to increase utilization of future manufacturing plants, resulting in higher production volumes and lower overall costs, compared to the polymerization reactor design currently used in the production of Rinnovo â¢. .
Stephen E. Croskrey, Chairman and CEO of Danimer, said: âCPChem’s loop slurry technology is one of the most renowned processes in the world for producing polyolefins efficiently and economically. This collaboration strengthens our strategy to accelerate 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 suspension processes produce a wide range of resins for a variety of applications. Today, technology, through CPChem and its licensees, accounts for a significant portion of high density polyethylene production worldwide. Jim Telljohann, senior vice president of research and technology at CPChem, said: âThis collaboration with Danimer demonstrates CPChem’s commitment to advancing programs in support of our sustainability, circularity efforts. and product climate.
Jeff Uhrig, Managing Director and President of Danimer Scientific Catalytic Processes, said: âAs a proven industry standard for producing efficient and reliable polyethylene for 60 years, CPChem’s loop suspension design is believed to be well suited to deliver similar advantages for the production of Rinnovo â¢. “
For more information on Danmer Scientific, visit www.DanimerScientific.com.
About Danimer Scientifique
Danimer is a pioneer in creating more sustainable and 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 is found in a wide range of finished plastic products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection molded articles, among others. Following the acquisition of Novomer, Danimer now holds more than 390 issued 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.
Please note that in this press release we may use words such as “appears”, “plans”, “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 based on our expectations and beliefs regarding future events affecting 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 forward-looking statements. The potential risks and uncertainties that could cause the actual results of operations or the financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this press release include, without limitation, the level overall consumer demand for our products; general economic conditions and other factors affecting consumer confidence, preferences and behavior; the disruption and volatility of global currency, capital and credit markets; the financial strength of the Company’s customers; the Company’s ability to execute its business strategy, including, but not limited to, its ability to expand its production facilities and factories to meet customer demand for its products and the timing thereof. this ; risks related to the uncertainty of forecast financial information concerning the Company; the Company’s ability to complete and integrate acquisitions; changes in government regulations, laws or public opinion regarding our products; the Company’s exposure to product liability or product warranty claims and other contingencies of loss; disruptions and other impacts on the Company’s activities, due to the global COVID-19 pandemic and government actions and restrictive measures implemented in response; the stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease outbreaks and health issues such as the global COVID-19 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 breach or interruption of our information systems; the ability of our information technology systems or information security systems to function effectively, including in the wake of security breaches, viruses, hackers, malware, disasters natural, supplier interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology or information security systems, or problems with our transition to upgraded or replacement systems; the impact of negative publicity regarding the Company and / or its brands, including, without limitation, via social media or in connection with events detrimental to the brand and / or public perception; fluctuations in the price, availability and quality of raw materials and products under contract as well as fluctuations in foreign currencies; our ability to use potential net operating losses carried forward; and changes in tax laws and responsibilities, tariffs, legal, regulatory, political and economic risks. More information about 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 the 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 on information available to the Company at 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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