Danimer Scientific Inc. (NASDAQ: DNMR) stock declined by 14.56% at the last close whereas the DNMR stock price rises by 4.89% in the pre-market trading session. Danimer is a pioneer in developing more environmentally friendly, natural alternatives to plastic manufacturing. Its renewable and sustainable biopolymers have been used to help develop biodegradable and compostable plastic items that return to nature rather than contaminating our lands and oceans for more than a decade.
DNMR stock’ Current Update
Deborah McRonald has entered Danimer Scientific as Chief Corporate Development Officer, which is a recently created job.
McRonald will concentrate on creating external collaborative efforts that drive revenue and help the Company achieve its objective of reducing plastic waste around the world. He has extensive experience leading business development and technology licencing initiatives across the pharmaceutical, consumer goods, maternal and infant nutrition, food and beverage industries.
These partnerships are intended to include prospective licencing or combined agreements with a variety of partners in order to expand the market for Danimer’s technology and materials while also improving the Company’s returns on invested capital.
The United Soybean Board has given Danimer Scientific a $400,000 grant to broaden the company’s assessment of high-oleic soybean oil (HOSO) as a feed-stock in the manufacturing of polyhydroxyalkanoate (PHA), a viable biopolymer that can be used as a biodegradable substitute for traditional plastic.
Following the successful end of a one-year plan to make a practical model for using HOSO as a feed-stock in manufacturing Nodax, Danimer’s signature PHA, which is used to develop a large array of products, including straws, bottles, and flexible film packaging, the grant symbolizes the extension of Danimer’s collaboration with the United Soybean Board. The project’s second year will be dedicated to expanding the commercial application of HOSO.
Phil Van Trump, Chief Science and Technology Officer of Danimer stated,
Because HOSO is a readily available substance in the United States, it is expected to be a practical and cost-effective Nodax feed-stock. They’re delighted with the outcomes of their first year of collaboration with the United Soybean Board, and that they appreciate their commitment to finding sustainable solutions to fulfill the growing demand for biodegradable materials.