Danimer Scientific plastics company backed by PepsiDanimer target is to rid the world once and for all of the non-biodegradable plastics used across the food and beverage space that continue to clog up landfills and oceans.
Danimer has inked partnerships with the likes of PepsiCo (PEP), Nestle, and Bacardi to introduce its more sustainable plastics into their respective packaging.
Danimer began trading on the New York Stock Exchange on Thursday after merging with a blank-check company called Live Oak Acquisition (LOAK). The SPAC transaction was announced on Oct. 5, and from that point Live Oak saw its shares surge nearly 140%.
DNMR is targeting $51 million in sales this year and $2.1 million in earnings before, interest, taxes and depreciation (EBITDA). Next year, it sees sales reaching $117 million and EBITDA of $21 million. (yahoo finance).
Danimer Market Cap 2.001B
