27. Jan 2022

Danimer Scientific and Hyundai Oilbank collaborate on driving global growth of PHA

Danimer Scientific and Hyundai Oilbank collaborate on driving global growth of PHA

PHA producer Danimer Scientific, has announced it has signed a memorandum of understanding with Hyundai Oilbank, the oil refinery unit of Hyundai Heavy Industries Holdings, to jointly develop global new market opportunities and applications for polyhydroxyalkanoate, a sustainable biopolymer that serves as a biodegradable alternative to traditional plastic.

The near-term focus of this collaboration is on providing Nodax®, Danimer’s signature PHA, and other PHA-based compounds produced by Danimer to commercial customers in South Korea and other Asian markets for sustainable single-use packaging and other applications. Over time, the companies aim to drive global growth opportunities for PHA manufacturing.

Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer, said, “The environmental impact of plastic waste affects the entire planet, and it will take global cooperation to address this crisis. Even as we continue growing our commercial operations in the U.S., we look forward to partnering with one of South Korea’s foremost business leaders in Hyundai Oilbank to introduce our sustainable materials and support the development of PHA applications in markets across Asia.”

Dal-ho Kang, Vice Chairman of Hyundai Heavy Industries Group and Chief Executive Officer of Hyundai Oilbank, stated that despite the serious destruction of the ecosystem due to incineration and reclamation of waste plastics which are difficult to recycle, plastic usage continues to increase. "We can reduce environmental pollution by replacing traditional plastics with biodegradable polymers and we’re excited to partner with Danimer Scientific on this important and transformational work.”

www.DanimerScientific.com, www.oilbank.co.kr.

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