New multi-year license and supply agreement
builds on successful joint development of biobased coatings for
paper and board products using sustainable biopolymer
Danimer Scientific, Inc. (NYSE: DNMR) and Kemira announced today
a multi-year license and supply agreement, exclusive in Kemira’s
core markets, to commercialize biobased barrier coatings for paper
and board products. The companies will introduce the newly
developed coatings for food and beverage industry applications
within North and South America, Europe, the Middle East and Africa
in the coming years. The relevant dispersion barrier market size is
currently around EUR 500 million and is expected to grow around 10%
per annum.
The new agreement builds on the companies’ successful
partnership, originally announced in December 2020, to develop a
coating and surface treatment that ensures paper and board items,
such as single-use coffee cups, are home and industrially
compostable, as well as biodegradable in soil and water
environments. The companies developed the coating material using
Danimer’s biopolymer PHA, which is produced from vegetable oils
using modern biotechnology and serves as a biodegradable
alternative to traditional plastics.
“This new, exclusive agreement is a major step in realizing our
biobased strategy to deliver high-quality, sustainable and circular
packaging solutions to our customers,” said Antti Matula,
SVP, Global Product Lines & Business Development for Kemira
Pulp&Paper. “We’re excited to expand our partnership with
Danimer to harness the full potential of PHA globally. Together we
will bring new biobased and circular products to markets, an
important milestone in reaching our biobased growth targets and
differentiating from competitors.”
The new PHA-based aqueous barrier coatings are heat sealable and
offer an excellent oil, water and grease barrier. Additional
benefits include repulpability, which enables the paper to be
recycled without special equipment for full fiber recovery. These
attributes further enhance the sustainability of the material and
enable brands to provide products that contribute to a circular
economy and reduce the impact of plastic waste on the environment.
The PHA coatings can replace polyethylene and provide a viable
alternative to per- and polyfluoroalkyl substances (PFAS). PFAS,
also known as “forever chemicals,” are increasingly being phased
out in food packaging around the world due to potential health
risks associated with their use.
“This expansion of our partnership with Kemira represents
several important milestones in Danimer’s mission to reduce plastic
waste,” said Stephen E. Croskrey, Chairman and CEO of
Danimer Scientific. “First, this successful project reflects the
potential for PHA to serve as a sustainable alternative to
traditional plastic across multiple categories. Second, this new
license and supply agreement establishes a new revenue stream that
will further support the global commercialization of this material.
We are grateful for Kemira’s continuing partnership and look
forward to helping them bring these coatings to market.”
About Kemira
Kemira is a global leader in sustainable chemical solutions for
water intensive industries. We provide best suited products and
expertise to improve our customers’ product quality, process and
resource efficiency. Our focus is on pulp & paper, water
treatment and energy industry. In 2021, Kemira had annual revenue
of around EUR 2.7 billion and around 5,000 employees. Kemira shares
are listed on the Nasdaq Helsinki Ltd. www.kemira.com
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 holds more than
390 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 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 release include,
but are not limited to, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220503005229/en/
Kemira Oyj Antti Matula, Senior Vice President, Global Product
Lines & Business Development antti.matula@kemira.com
Kemira Oyj Mikko Pohjala, Vice President, Investor Relations
Tel: +358 40 838 0709 mikko.pohjala@kemira.com
Danimer investors ir@danimer.com Tel: +1-229-220-1103
Danimer media Anthony Priwer apriwer@daltonagency.com Tel: +1-
615-515-4891
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