Bioplastics company Danimer Scientific Inc (NYSE:DNMR) said it is expanding its collaboration with Chevron Phillips Chemical (CPChem) to explore the development and commercialization of cast extrusion films, blown extrusion films, injection molded parts and rotational molded parts using Rinnovo polymers produced in a loop slurry reactor process.
Rinnovo is a type of polyhydroxyalkanoate (PHA) synthesized from lactones produced using Danimer’s proprietary Novo22 catalyst technology.
This can be used in the production of biodegradable alternatives to traditional plastics.
In Danimer and CPChem’s previous collaboration, Danimer is evaluating the use of CPChem’s loop slurry reactor design to develop a continuous reactor system in the manufacturing process for Rinnovo.
“Our business relationship with CPChem continues to yield results, and we’re excited for the further opportunities that lie ahead,” said Danimer CEO Stephen E. Croskrey.
CPChem’s Bartlesville facility’s testing and analytical capabilities provide a more rapid feedback loop, accelerating the development and optimization of resin formulations.
Price Action: DNMR shares are trading higher by 2.69% at $1.91 on the last check Wednesday.
