View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. Deals
August 12, 2021

Danimer Scientific buys biodegradable polymer company Novomer

The acquisition brings Danimer's total number of granted patents and pending patent applications to more than 390.

US-based bioplastics firm Danimer Scientific has closed its previously announced acquisition of biodegradable polymer producer Novomer.

The $152m deal was announced last month and has been approved by both companies’ Boards of Directors.

Based in Rochester, New York, Novomer specialises in manufacturing polymers and chemicals such as poly(3-hydroxypropionate) (p(3HP)), a type of polyhydroxyalkanoate (PHA) that can be sourced from renewable or non-renewable feedstocks.

The company operates a pilot plant in Rochester, where it uses its proprietary Novo22 catalyst and intelligent process.

It employs around 20 people, including scientists, engineers and technicians, at the plant.

As part of the acquisition, Danimer will take over Novomer’s research centre and pilot plant in Rochester.

Danimer CEO Stephen Croskrey said: “Completing this acquisition is an important step forward in accelerating our plan to deliver high-quality biodegradable products to leading consumer product clients.

“The transaction increases the economic value of our expansion while reducing the dollar risks of commodity inputs in our process.

“This transaction enables Danimer to continue our development and deployment of products for consumer packaging and other applications that the marketplace is demanding.”

Novomer CEO Jeff Uhrig will continue to lead the company in coordination with Danimer’s senior leadership.

Mr Uhrig said: “The closing of this transaction will allow us to hit the ground running so we can recognise the extraordinary benefits of this combination.

“I want to thank the superb teams at Danimer and Novomer for their hard work to finalise this transaction.

“Together, we are excited to continue our efforts to commercialise this technology at scale to help reduce plastic waste on our planet.”

Danimer will take ownership of Novomer’s library of more than 240 patents and patents pending, as well as the team working at the Rochester plant.

Following the acquisition, Danimer will have more than 390 granted patents and pending patent applications across more than 20 countries.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The packaging industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU