“Danimer”, a leading next generation bioplastics company focused on the development and production of biodegradable materials, today 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 (“PHA”), 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, mentioned, “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.”
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.
About Hyundai Oilbank
Hyundai Oilbank is one of Korea’s top four refiners with competitiveness in oil refining, petrochemicals, lube base oil, carbon black and more. Recently, the company has been focusing on expanding businesses in non-oil sectors, such as hydrogen, environment-friendly materials, etc.
Source
Danimer Scientific, press release, 2022-01-25.
Supplier
DaniMer Scientific
Hyundai Heavy Industries Co., Ltd.
Hyundai Oilbank
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