Danimer Scientific, Inc. has acquired Novomer, Inc. for $152 million to enhance its bioplastics production capabilities and broaden its sustainable product offerings.

Information on the Target

Danimer Scientific, Inc. (NYSE: DNMR) has recently announced its acquisition of Novomer, Inc. for $152 million in cash. Novomer, based in Rochester, New York, specializes in developing advanced conversion technology that delivers functional and low net carbon inputs, including poly(3-hydroxypropionate) (p(3HP)), a polymer that can serve multiple applications within biodegradable material production. Novomer operates a pilot plant where it harnesses its proprietary Novo22™ catalyst and innovative process designs to create high-performance, cost-effective polymers derived from both renewable and non-renewable feedstocks.

With approximately 20 employees and a robust intellectual property portfolio featuring over 100 issued patents and 140 pending patents, Novomer is poised to enhance Danimer's capabilities in the bioplastics market. The integration of Novomer's technology and materials is expected to complement Danimer’s existing product line, particularly its signature Nodax® brand of polyhydroxyalkanoate (PHA) resins.

Industry Overview

The bioplastics industry has experienced significant growth in recent years, driven by increasing environmental concerns and the demand for sustainable alternatives to traditional petroleum-based plastics. The global mark