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  "documentTitle": "Danimer Scientific (DNMR)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
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  "presentationDate": "2021-09-15 00:00:00",
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      "kind": "callout",
      "text": "DNMR misleads investors regarding the commercial viability and timeline of partnerships with major corporations like Mars Wrigley and PepsiCo.",
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      "text": "We understand that in all likelihood, the earliest Mars Wrigley will purchase commercial quantities of wrappers using DNMR PHA is 2025 – if ever. We further understand that PepsiCo views DNMR PHA potato chip bags as being several years away at best from a commercial-scale roll out. DNMR misleadingly implies that a PLA bag that it developed with PEP that won a bioplastics award is actually a PHA bag. DNMR faces numerous, significant challenges in bringing a broad range of PHA-based products to commercial scale.",
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      "kind": "paragraph",
      "text": "DNMR has prominently featured its customer agreements with Mars Wrigley, PepsiCo’s Frito-Lay, Nestlé and others. The narrative is that these agreements provide strong sales visibility over the next few years. We disagree.",
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