In Georgia, polyhydroxyalkanoates bioplastics company Danimer Scientific has reported third-quarter sales of $8.6 million, down $2.3 million compared to the year-ago quarter, primarily due to the reapportionment of Starbucks’ straw business. A net loss of $21.8 million, however, was up from the year-ago quarter’s loss of $40.2 million.
“We completed the third quarter in line with our expectations considering the temporary impact of Starbucks’ reapportionment of their Nodax-based straw business between our converter partners,” said Richard N. Altice, interim CEO, in a press statement. “We believe these headwinds are behind us, and it is important to reiterate that we have retained 100% of this business. We remain on track to continue to grow our PHA business into fiscal 2025.”
The company is also “excited about the soft launch of 100% compostable Skittles packaging made with our Nodax PHA resin,” Altice added. “This packaging was featured at a Seattle Seahawks NFL game in October 2024. This long-standing development partnership with Mars Wrigley is a great example of how our biodegradable resins can help combat the end-of-life problem of petroleum-based plastics.”