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2022-01-26 19:26
06:20 AM EST, 01/26/2022 (MT Newswires) -- Danimer Scientific (DNMR) said Tuesday it signed a memorandum of understanding with Hyundai Heavy Industries unit Hyundai Oilbank to focus on manufacturing and distribution of polyhydroxyalkanoate, or PHA, a biodegradable alternative to traditional plastic.
Under the collaboration, the companies will initially provide Danimer's PHA Nodax along with its other PHA-based compounds to commercial customers in South Korea and other Asian markets. The companies eventually plan to focus on global growth opportunities for PHA manufacturing, according to a statement.
Shares of Danimer Scientific are 7% up in premarket trading.
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