05/11/2021 | Press release | Distributed by Public on 05/11/2021 06:04

Danimer Scientific Receives Innovation Research Grant to Support Biodegradable Plastic Solutions

Danimer Scientific Receives Innovation Research Grant to Support Biodegradable Plastic Solutions

Project to be conducted with University of Minnesota's Forever Green Initiative to investigate pennycress oil in production of polyhydroxyalkanoate (PHA), a biodegradable plastic alternative

BAINBRIDGE, Ga.--(BUSINESS WIRE)-- Danimer Scientific (NYSE: DNMR), a leading developer and manufacturer of biodegradable materials, today announced it has received a Small Business Innovation Research (SBIR) grant to research pennycress oil as a potential feedstock material for producing polyhydroxyalkanoate (PHA), a biodegradable, eco-friendly alternative to traditional plastic.

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Danimer Scientific will partner with the University of Minnesota's Forever Green Initiative starting in July 2021 to research the potential for using pennycress oil in producing the company's Nodax® biodegradable solution. The project will help determine whether pennycress oil can serve as a viable alternative to supplement the company's current use of canola oil as a feedstock. Researchers will also compare pennycress oil sourced from wildtype seeds with plants domesticated as winter cover crops. Results will guide the development of commercial models for using pennycress oil to produce PHA, a material manufacturers need to make biodegradable drinking straws, cutlery, packaging and other single-use products.

'An important differentiator of PHA is that it can be produced using renewable and sustainable products such as different kinds of plant oils and sugars, in place of the fossil fuels used to produce traditional plastic,' said Danimer Scientific Chief Science and Technology Officer Phil Van Trump. 'We are excited about the potential of pennycress oil for our manufacturing process. Our partners at the Forever Green Initiative are the leading experts on this crop, and we are grateful to have their knowledge and expertise on this project. This ultimately will help us further our mission of reducing the impacts of plastics waste with renewable and biodegradable alternatives.'

The initiative's recent work has led to the identification of various traits in field pennycress that enabled researchers to domesticate the plant without using genetic engineering.

'We are dedicated to developing winter hardy cover crops that can fit within current growing cycles, and one of the most effective ways we can support farmers growing these crops is to facilitate reliable economic opportunities,' said Dr. M. David Marks, Professor of Plant and Microbiology at the University of Minnesota. 'Partnering with Danimer Scientific on this project is a great opportunity to help manufacturers develop more products based on these crops.'

Danimer Scientific's Nodax® possesses six TUV AUSTRIA certifications of industrial and home compostability, is biodegradable in soil, fresh water and marine environments and is 100% bio-based. All of Danimer Scientific's biopolymers, including Nodax®, are FDA approved for food contact.

For more information about Danimer Scientific, please visit: www.DanimerScientific.com. For more information on The Forever Green Initiative, please visit: www.ForeverGreen.umn.edu.

About The Forever Green Initiative

For the state of Minnesota to meet proposed water quality goals, we must incorporate winter annual and perennial crops into agricultural landscapes. The Forever Green Initiative at the University of Minnesota is positioned to realize this goal and more. The Forever Green Initiative is focused on developing new crops to ensure agricultural production to strengthen economies while protecting water and other natural resources. By coupling innovations in crop breeding, agricultural production methods, food science, and utilization technologies, we can add to the productivity and profitability of current agricultural systems and enable major improvements in water quality. For more information, visit www.ForeverGreen.umn.edu.

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 150 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, including statements regarding the expected impact of the restatement of the Company's financial statements on our 2020 financial results, 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 press release include, but are not limited to, the completion of the audit of the Company's restated financial statements, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005296/en/

Investors
[email protected]
Phone: 229-220-1103

Media
Danimer Scientific
Anthony Popiel
[email protected]
Phone: 404-876-1309

The Forever Green Initiative
Constance Carlson
[email protected]
Phone: 612-709-6790

Source: Danimer Scientific

Released May 11, 2021

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