Danimer Scientific, Inc. (DNMR): Business Model Canvas [Dec-2025 Updated]

You're trying to map the current DNA of Danimer Scientific, Inc. (DNMR), but here's the reality check: the old public company is gone, replaced by a focused biopolymer unit inside Teknor Apex. This acquisition completely changes the game, shifting the focus from public market funding to executing on real-world sales, which hit about $37.42 Million USD in trailing revenue by December 2025. We need to look past the old structure to see the new engine-patented Nodax resin, major CPG partnerships, and high fixed costs-that defines its operational blueprint now. See the nine blocks below to understand exactly how this specialized unit generates revenue and manages risk today.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Key Partnerships

You're looking at the post-acquisition structure of Danimer Scientific, Inc. (DNMR) as of late 2025, so the most critical partnership is the new ownership itself. Following the Chapter 11 filing in March 2025, Teknor Apex acquired substantially all of Danimer Scientific's assets in May 2025. The winning bid was $19 million in cash, plus the assumption of certain liabilities. So, Danimer Scientific now operates as an independent subsidiary under Teknor Apex's umbrella, which provides the financial stability you asked about.

This acquisition immediately brought significant, tangible assets under Teknor Apex's control. Specifically, Teknor Apex gained two U.S.-based manufacturing and R&D sites in Bainbridge, Georgia, totaling over 200,000 square feet. Plus, the intellectual property estate is substantial, comprising more than 480 patents and pending applications across over 20 countries, covering everything from fermentation to compounding. The integration plan, as of mid-2025, prioritizes continuity in R&D and customer relationships while leveraging Teknor Apex's infrastructure to expand market access for the Nodax® polyhydroxyalkanoate (PHA) technology.

The relationship with major CPG companies remains central to market validation. You know about the work with Mars Wrigley, which was a key development agreement aimed at supporting Mars Wrigley's goal of 100 percent reusable, recyclable, or compostable packaging by 2025. The initial focus was on home compostable packaging for the Skittles brand in the U.S. While the initial targets for on-shelf product were late 2021 or early 2022, this partnership established the viability of using Nodax PHA in flexible packaging formats.

Regarding the straw resin supply, while the prompt mentions Starbucks retaining 100% of the business, the public data I have points to other key manufacturing partners in that space. For instance, Danimer Scientific partnered with UrthPact to manufacture drinking straws using Nodax™ PHA, with products certified for home composting and marine degradation. Before the acquisition, Danimer Scientific's Kentucky plant held an annual capacity of 20 million pounds of Nodax® PHA. It's important to note that prior to the bankruptcy, PHA-based products had expanded to account for 29% of total revenue, up from 7% in the year-ago quarter.

The network of converter partners is essential for scaling up from resin to final product. These are the entities that take Danimer Scientific's biopolymer resin-which is produced via natural fermentation using plant oils like canola-and process it into finished goods like cutlery and film. The acquired facilities include world-class laboratories and manufacturing units, which directly support these downstream processing partners.

Feedstock diversification through research institutions is a long-term strategic play. The partnership with the University of Minnesota's Forever Green Initiative, which started in July 2021, focused on researching pennycress oil as a supplement or alternative to canola oil for Nodax® production. The potential economics are compelling: wild pennycress varieties are estimated to yield 840 liters/hectare of oil (with a 33% oil content by weight) and could add approximately $100.00 per acre to a farmer's income by integrating into corn-soybean rotations. This work aims to create a more resilient and potentially lower-cost supply chain for the raw material.

Here's a quick look at the key figures tied to these relationships as of the latest available data:

You should also track these operational aspects:

• Danimer Scientific filed for Chapter 11 in March 2025.
• The acquired IP covers processes across over 20 countries.
• Mars Wrigley's goal was 100% compostable packaging by 2025.
• The University of Minnesota research began in July 2021.
• Nodax PHA is produced using plant oils like soy and canola.

Finance: draft 13-week cash view by Friday.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Key Activities

The primary Key Activity for Danimer Scientific, Inc. under the Teknor Apex structure as of late 2025 revolves around the continued operation and optimization of its proprietary biopolymer technology, following the asset acquisition in June 2025 following a Chapter 11 filing on March 18, 2025.

Manufacturing Polyhydroxyalkanoate (PHA) biopolymer resin, primarily Nodax.

The core activity is the production of Nodax® PHA, a bioplastic made via bacterial fermentation using plant-based oils. While the company previously operated two principal manufacturing platforms-PHA fermentation and PLA reactive extrusion-the focus is now on the inherited assets.

Key operational metrics from the period leading up to the acquisition provide context for the inherited capacity:

• Winchester, KY Facility: Had an approximate annual Nodax® production capacity of 55 million pounds.
• Bainbridge, GA Facility: A greenfield project that had nearly $190 million sunk into it before work was suspended.
• Overall Utilization: Since 2020, Danimer Scientific's facilities were operating at approximately 15% of total capacity.

Scaling up production to meet the 20-million-pound annual run rate for the significant cutlery award.

A major activity involved executing the ramp-up for a significant quick-service restaurant (QSR) cutlery program. The target for this program was a 20-million-pound annual run rate anticipated to be reached in mid-2025. The progress leading up to this target involved securing initial orders:

• Orders received as of Q3 2024 were over 250,000 pounds of cutlery and film resin.
• Orders received as of December 2024 were over 365,000 pounds.

The company had forecasted that annualized PHA revenues would more than triple by the end of Q2 2025 based solely on existing customer relationships, including this cutlery award.

Continuous R&D for new biopolymer formulations and application development.

Research and development remains fundamental to advancing the science of biopolymers, a field described as being in its infancy compared to traditional polymers. The acquisition by Teknor Apex brought together the inherited R&D capabilities with a strong patent portfolio.

The activity involves taking projects from concept to reality, focusing on making new generations of materials perform better at a lower cost.

Operating and maintaining the Winchester, Kentucky and Bainbridge, Georgia production facilities.

This activity is now managed under the new ownership structure. The inherited assets include two facilities totaling over 200,000 total square feet of laboratories, manufacturing, and testing space. The Winchester, KY plant was the world's first commercial-scale PHA fermentation plant. Prior to bankruptcy, the Bainbridge facility was suspended, having already consumed nearly $190 million in investment.

Managing the transition and integration into the larger Teknor Apex corporate structure.

The key activity here is the operational integration following the asset purchase agreement approved by the Delaware Bankruptcy Court. Danimer Scientific is set to continue operating as a separate, dedicated entity under the Teknor Apex umbrella. The acquisition was finalized in June 2025 for a reported bid of $19 million plus the assumption of certain liabilities. This transition is intended to provide stability and reinvestment for advancing the technology.

Finance: draft 13-week cash view by Friday

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Key Resources

You're looking at the core assets that underpin Danimer Scientific, Inc. following the June 2025 acquisition by Teknor Apex. These are the tangible and intangible things the business uses to create value, so let's lay out the hard numbers.

The foundation is definitely the patented Nodax® PHA technology. This is the proprietary polyhydroxyalkanoate (PHA) biopolymer platform, which is certified for both marine and soil biodegradability. The process relies on renewable inputs, primarily canola oil and other plant-based oils, as the starting material for fermentation.

The manufacturing footprint is significant, though the utilization rates leading up to the acquisition were a concern. The physical assets include two U.S.-based facilities totaling over 200,000 total square feet of laboratories, manufacturing, and testing space in Georgia and Kentucky.

Here's the breakdown on the nameplate production capacity that Teknor Apex acquired:

The intellectual property estate is a major intangible asset. The company holds a substantial portfolio protecting its science and processes.

• More than 480 granted patents and pending patent applications.
• IP coverage spans more than 20 countries.
• The portfolio covers fermentation-based monomer production, biopolymer compounding, formulation, and end-use applications for PHA/PLA.

The strategic value of the acquisition is tied to the capital and market reach now available. Teknor Apex acquired substantially all of Danimer Scientific's assets for a reported bid of $19 million, which included assuming certain liabilities. This provides the necessary stability and infrastructure to scale the technology, something the prior standalone structure struggled with, evidenced by 2024 revenue of only $26 million against losses of $72 million in the first nine months of that year.

The specialized R&D team remains a key resource, operating out of the Bainbridge campus, continuing work on the proprietary technology.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Value Propositions

Truly biodegradable and compostable plastic alternatives to petroleum-based resins represent the core offering. Danimer Scientific, Inc. manufactured its signature polymer, Nodax® PHA, from renewable canola oil, positioning it as a direct replacement for traditional plastics across numerous forms, including films, straws, cutlery, and containers. The company's pre-merger projections indicated a potential for sales reaching $513 million in fiscal year 2025, up from an expected $51 million in sales for the year prior to the SPAC transaction.

Nodax® PHA is marine biodegradable, which directly addresses the single-use plastic waste crisis. This characteristic is a key differentiator from many other bioplastics. Large brand owners, such as PepsiCo, Inc., had set goals requiring 100% of their packaging to be recyclable or compostable by 2025, making this marine biodegradability a critical component of their corporate sustainability strategy.

Custom-formulated biopolymers serve diverse applications, ranging from film and coatings to injection molding. For instance, a significant cutlery award was progressing toward an anticipated 20-million-pound annual run rate by mid-2025, with orders for over 250,000 pounds of resin and film resin already received as of the third quarter of 2024. The company also highlighted the soft launch of 100% compostable Skittles packaging made with Nodax® PHA resin in October 2024.

Helping large brand owners meet their corporate ESG (Environmental, Social, and Governance) and sustainability commitments is a primary value driver. Customers viewed the Nodax® PHA technology as a core component of their strategy to reduce plastic waste. The global biopolymer market, which includes PHA, was projected to grow at an annualized rate of almost 18% between 2020 and 2024.

FDA-approved biopolymers for food contact applications provide necessary regulatory assurance for consumer packaged goods. Historically, a Food Contact Substance Notification (FCN 001398) for a PHA polymer became effective on March 27, 2014, allowing contact with all food types under Conditions of Use B-H, excluding infant formula and breast milk.

Here's a quick look at the scale and financial context surrounding these value propositions, based on pre-bankruptcy projections and recent performance figures:

The material's application versatility is supported by its compatibility across several processing methods. These include:

• Film resins
• Aqueous coatings
• Injection moulding
• Extrusion coating
• Hot melt adhesives

The company also provided toll manufacturing and compounding services.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Danimer Scientific, Inc. as of late 2025. Honestly, the structure shifted significantly mid-year with the acquisition by Teknor Apex following the March 2025 Chapter 11 filing, but the core relationships driving the technology's value remain the focus.

Deep, long-term co-development partnerships with major brand owners are central to how Danimer Scientific commercialized its Nodax® PHA technology. These relationships often involve years of joint development work before a product hits the market. For instance, the development of 100% compostable Skittles® packaging with Mars Wrigley exemplifies this deep, long-term engagement. Historically, the company built relationships with major fast-moving consumer goods (FMCG) companies, including R&D agreements with PepsiCo starting in 2016 and Nestlé in 2018. The foundation of this partnership model is supported by the company's intellectual property portfolio, which includes over 480 granted patents and pending applications across more than 20 countries.

The relationship management strategy heavily focused on securing large, long-term volume commitments, which were critical for justifying capacity expansion. The most significant example is the cutlery award, which targeted a 20-million-pound annual run rate anticipated to be reached by mid-2025. To be fair, the actual volume shipped against this commitment provides the clearest metric of success in securing volume. As of late 2024, orders for cutlery resin and film resin against this single award totaled over 365,000 pounds. Another key relationship, the Starbucks straw business, was retained in its entirety, representing 100% retention despite a reapportionment of the business between converter partners.

The model for large-volume industrial customers relies on a direct sales and technical service approach, especially when scaling up major projects like the cutlery award. This involves direct engagement with the end customer's ramp plan and supporting their capital investments. Dedicated technical support is provided to converter partners to ensure they can successfully process the resin. This support is evidenced by the end customer purchasing new injection molding equipment and receiving initial molds for testing in support of the 20-million-pound cutlery program scale-up.

Here's a quick look at the scale of key customer engagements mentioned in recent operational updates:

The relationships are managed with an eye toward future scale, which is why retaining 100% of the Starbucks straw business was highlighted as a key management success, even amidst financial headwinds. The focus is clearly on converting development successes into committed, multi-year volume contracts.

• Historical R&D agreement with PepsiCo started in 2016.
• Historical R&D agreement with Nestlé for bottle caps started in 2018.
• The company holds over 480 granted patents and pending applications.
• IP coverage extends across more than 20 countries.
• The cutlery program required converter partners to receive initial molds for testing.

Finance: review the Teknor Apex integration plan for customer relationship handover by Q1 2026.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Channels

You're looking at the distribution strategy for Danimer Scientific, Inc. following its acquisition by Teknor Apex in mid-2025. The channels now reflect a transition from a struggling public entity to an integrated, privately-backed biopolymer unit. The focus shifts to leveraging the new parent company's established footprint while maximizing the output from the existing manufacturing assets.

Direct sales force targeting large multinational consumer packaged goods (CPG) companies.

This channel remains critical for securing high-volume, long-term resin contracts with major brand owners. Before the acquisition, progress was evident with partners like Mars Wrigley for Skittles packaging and a significant cutlery award. For instance, the cutlery award targeted a 20-million-pound annual run rate anticipated to be reached in mid-2025. The TTM revenue as of December 2025 stood at $37.42 Million USD, which reflects the sales activity through all channels up to that point.

Sales through converter partners who transform the resin into final products (e.g., straws, cutlery).

Converter partners are the essential bridge between Danimer Scientific's resin pellets and the final consumer product. The Q3 2024 results noted disruptions due to the reapportionment of the Starbucks straw business between these partners, showing their direct impact on order patterns. The success of the cutlery award, which involved multiple converter partners, is a key metric for this channel's effectiveness.

Parent company Teknor Apex's existing industrial sales and distribution channels.

This represents a major structural change post-acquisition. Teknor Apex brings a global leader's infrastructure to the table, which is intended to accelerate market reach for the Nodax® PHA and PLA resins. The stated goal is to leverage Teknor Apex's resources to reach new customers and markets, strengthening the overall distribution network beyond what Danimer Scientific could manage independently.

Direct shipment of resin pellets from the Bainbridge and Winchester manufacturing sites.

Shipments flow directly from the two primary U.S. operational sites. The capacity at these sites dictates the maximum volume that can be pushed through any channel. The Winchester, KY facility is the PHA fermentation hub, holding approximately 55 million pounds of annual Nodax® production capacity. The Bainbridge, GA facility focuses on reactive extrusion, primarily for PLA-based resins, with approximately 25 million pounds in annual capacity. These two sites, totaling over 200,000 square feet of labs and manufacturing space, are the physical source for all channel fulfillment.

Here's a quick look at the stated production capabilities that feed these channels:

The intellectual property estate, with over 480 granted patents and pending applications across more than 20 countries, supports the material sold through these channels by securing the proprietary nature of the resins.

The distribution structure relies on a mix of direct engagement for large accounts and partner networks for broader conversion, all now underpinned by the stability and reach of Teknor Apex:

• Direct engagement with CPGs for large-scale resin offtake.
• Sales routed via converter partners for finished goods manufacturing.
• Integration into Teknor Apex's established global distribution network.
• Physical fulfillment originating from the 55 million pound PHA capacity at Winchester and 25 million pound PLA capacity at Bainbridge.

Finance: draft 13-week cash view by Friday.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Customer Segments

You're looking at the customer base for Danimer Scientific, Inc. as of late 2025, right after the Chapter 11 filing in March 2025. The company's trailing twelve-month revenue as of December 2025 stood at $37.42 Million USD.

Global Quick Service Restaurants (QSR) and Foodservice companies represent a core segment, primarily through resin supply for single-use items like straws and cutlery. You know the Starbucks relationship is significant; management confirmed retaining 100% of that straw resin business even after partner reapportionment issues in 2024. The major focus, however, is the cutlery award, which management was working toward a 20-million-pound annual run-rate by mid-2025.

Multinational Consumer Packaged Goods (CPG) companies are key for film and flexible packaging applications, driven by sustainability mandates. The soft launch of 100% compostable Skittles packaging, made with Nodax PHA, at a Seattle Seahawks NFL game in October 2024, shows momentum with major brand owners like Mars Wrigley. This PHA resin accounted for approximately 83% of product sales in Q3 2024.

Packaging and film manufacturers, often referred to as converters, are the direct purchasers who process the resin into final goods for the QSR and CPG customers. These partners are critical for scaling production, as evidenced by the end customer funding significant capital for cutlery molds across each converter partner supporting the cutlery award.

Companies in the agricultural and medical industries form other important, though perhaps less immediately quantified, segments for Danimer Scientific, Inc.'s biopolymers. The global bioplastics market specifically in medical devices is forecast to reach $5.06 billion, positioning Danimer Scientific, Inc. among major industry participants in that space.

Here's a quick look at the volume milestones tied to these customer groups:

You should note the PLA resin revenue was $1.3 Million in Q3 2024, showing a decrease due to lower customer demand in that specific product line.

• Global bioplastics market (Medical Devices) forecast: $5.06 billion.
• U.S. bioplastics market expected size by 2035: $21.84 billion.
• Total Debt (as of September 30, 2024): $387.9 million.
• Unrestricted Cash (as of September 30, 2024): $22.2 million.

Finance: draft 13-week cash view by Friday.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Cost Structure

You're looking at the cost side of the business model for Danimer Scientific, Inc. (DNMR) as it transitioned through 2025. The cost structure is heavily weighted toward capital-intensive operations and raw material inputs, which management sought to rebalance following the March 2025 Chapter 11 filing and subsequent asset sale.

High fixed costs associated with operating and maintaining specialized fermentation and production facilities.

The need to operate and maintain specialized biopolymer production assets drives significant fixed overhead. For fiscal year 2024, the company guided full-year capital expenditures to be between $8 million and $9 million, which supported existing commitments, including the Bainbridge greenfield facility. The facilities themselves, prior to the acquisition, represented a substantial fixed asset base.

Significant raw material costs, primarily renewable feedstocks like canola oil.

The production of PHA biopolymer is directly tied to the cost of its primary feedstock, canola oil. The process requires approximately one pound of canola to produce one pound of PHA. Commodity pricing for this input is a major variable cost driver. As of June 9, 2025, the spot price for canola traded at US$520/MT (712.88 CAD/MT) on ICE Futures Canada, with projections reaching US$531/MT by the end of that quarter. Bulk foodservice costs for canola oil were noted in the range of US$10-14/gallon.

The following table summarizes key financial metrics that reflect the cost base leading up to the 2025 restructuring:

High R&D expenditure for biopolymer innovation and application development.

Innovation costs are embedded in the structure through intellectual property development. Danimer Scientific held a significant portfolio, including more than 480 granted patents and pending patent applications in over 20 countries for its manufacturing processes and biopolymer formulations, indicating sustained investment in science.

Operating costs were previously high, contributing to a $(7.3) million gross loss in Q3 2024.

The operational strain was evident in the third quarter of 2024 results. The gross profit was $(7.3) million, which was consistent with the $(7.7) million reported in the third quarter of 2023. Management also took steps to reduce operating expenses, including suspending operations at Danimer Catalytic Technologies and implementing workforce reductions to conserve capital.

Costs of debt service and capital structure management, now mitigated by the Teknor Apex acquisition.

Leverage was a critical cost factor. As of September 30, 2024, total debt stood at $387.9 million against only $22.2 million in unrestricted cash. The company addressed this by filing for Chapter 11 in March 2025. The subsequent acquisition by Teknor Apex, which involved a $19,000,000 cash purchase price and the assumption of certain liabilities, was explicitly intended to restructure the balance sheet and transition operations to a more sustainable cost base.

The key cost components that management focused on controlling included:

• Fixed overhead from operating two facilities totaling over 200,000 total square feet.
• Variable input costs tied to global canola oil pricing.
• Interest expense on outstanding debt, such as the Secured Loan accruing 15.0% per annum.
• Costs associated with maintaining over 480 patents.

Finance: draft 13-week cash view by Friday.

Danimer Scientific, Inc. (DNMR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Danimer Scientific, Inc. brought in money, which is key to understanding their financial structure, especially given the late 2025 context following the March 18, 2025, Chapter 11 filing.

The revenue generation was primarily segmented across their biopolymer offerings and service capabilities:

• Sale of Nodax® PHA and other biopolymer resins to industrial customers and converters.
• Revenue from Polylactic Acid (PLA) and other legacy biopolymer product sales.
• Toll manufacturing and compounding services utilizing the Bainbridge facility.

The success of the business model was heavily weighted on scaling up a major commitment. Future revenue growth was explicitly tied to the successful ramp-up of the 20-million-pound cutlery award by mid-2025. The company had forecasted annualized PHA revenues to more than triple by the end of Q2 2025, which was a critical milestone for that specific revenue stream.

To give you a sense of the scale leading up to this period, here's a look at the reported revenue history:

The final reported financial snapshot you need to anchor to is the Trailing Twelve Months (TTM) figure as of December 2025, which was approximately $37.42 Million USD. Honestly, that number reflects the reality of the operational headwinds and the transition period the company was in following the NYSE delisting in January 2025.