Danimer Scientific, Inc. (NYSE:DNMR) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET

Company Participants

Russ Zukowski - VP, Corporate Finance

Stephen Croskrey - CEO

Michael Hajost - CFO

Conference Call Participants

Jon Tanwanteng - CJS Securities

Laurence Alexander - Jefferies

Thomas Boyes - Cowen & Company

Operator

Greetings, and welcome to the Danimer Scientific First Quarter 2022 Conference Call. At this all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I’d now like to turn the conference over to your host Russ Zukowski. Please go ahead.

Russ Zukowski

Thank you, operator. And thank you, everyone for joining us today for our first quarter 2022 earnings call. Hosting the call today are Danimer's CEO, Steve Croskrey; and CFO, Mike Hajost.

During our discussion today, we will be referring to our earnings presentation which is available on the Investor Relations section of our website at danimerscientific.com. On slide two, please note that we may discuss forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, future results of operations, capacity, production, and demand levels that could differ in a material way from those expressed or implied in the forward-looking statements. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.

Today's presentation also includes references to non-GAAP financial measures. Reconciliations to the most comparable GAAP financial measures can be found in the earnings presentation.

I will now turn the call over to Steve.

Stephen Croskrey

Thank you, Russ. Good afternoon, everyone. Thanks for joining. During the first quarter, we progressed further on our journey to deliver leading biodegradable packaging solutions for a variety of in-demand customer applications. Today, I will discuss our first quarter performance, recent business development updates and the progress of our capacity expansion plans.

Every initiative we have undertaken aligns with the key strategic priorities we outlined last quarter, shown on slide three. These priorities are: number one, expand our capacity to achieve substantial economies of scale, not only through increasing our organic production capacity in Kentucky and Georgia, but also by leveraging strategic third-party relationships, such as our collaborations with Hyundai Oilbank and others.

Number two. Lead with innovation to address a broad range of customer needs as we continue to leverage our core competency a formulation and application development. This will be done through our own proprietary technology and experienced team of researchers and scientists, and also includes the pursuit of new R&D development and licensing agreements with partners, such as our recently announced license and supply agreement with Kemira.