BAINBRIDGE, Ga.--(BUSINESS WIRE)--Danimer Scientific (NYSE:DNMR), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today that it received a U.S. Patent for a renewable, biodegradable marking wax that serves as an alternative to petrochemical-based paraffin wax. The patent was jointly awarded to Danimer Scientific and its partner in developing the material, Rob Falken, an environmentally focused material developer based in San Diego. The material can be used to make plant-based, compostable crayons that reliably break down in industrial composting facilities and home compost bins, unlike traditional crayons made with non-renewable paraffin wax that can take decades to decompose.
“Our mission is to develop and manufacture 100% renewable and biodegradable alternatives to traditional petrochemical-based materials,” said Danimer Scientific Chief Science and Technology Officer Phil Van Trump. “This project is a significant step towards expanding this mission from single-use plastic alternatives to a greater range of industries and applications. By collaborating with Mr. Falken, we combined his knowledge of functional waxes with our expertise in polymer chemistry to create a completely new material that has the potential to bring the crayon industry to the forefront of sustainability. We believe this has potential to help the next generation see how they can reduce the environmental impact of popular consumer products.”
Crayons made from the biodegradable wax exhibit the same quality, feel and breaking strength as non-renewable paraffin, which ensures consumers do not have to sacrifice performance when using a compostable crayon. In addition, the material is non-allergenic, non-toxic and odorless, making it a safe and reliable product for children and adults alike. Danimer Scientific plans to engage crayon manufacturers in bringing this new material to the marketplace.
“The largest crayon manufacturers consume millions of pounds of paraffin wax every year to produce billions of crayons, and this new material offers a way to reduce the environmental impact of these beloved products,” said Falken. “We’ve also developed a formulation to use our biodegradable wax for making crayons with seeds in them, allowing consumers to plant the crayons rather than simply throwing them away after use. It’s a great way to educate children on how to dispose of broken or discarded crayons in an eco-friendly manner.”
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.
About Rob Falken
Rob Falken is an environmentally-minded inventor and material developer with over 20 years of experience. From invention to sourcing and supply chain management, Falken has brought numerous game-changing innovations to life, collaborating with some of the greatest minds in science and business. Born and raised in San Diego, California, Rob has a lifelong obsession with surfing, inventing, and challenging the status quo. He started his own surfboard wax manufacturing business at the age of 18. All formulations and R&D were conducted by Rob himself, and the result was a company with global product distribution that was acquired after five years in business. Since then, he has co-founded and managed a handful of successful ventures as an inventor and entrepreneur. For more information, visit www.RobFalken.com.
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.