Danimer Scientific's (MHG Holdings) Largest Shareholder Puts up 20% Non-Dilutive Stock for Sale

NEW YORK, April 22, 2019 /PRNewswire/ -- Danimer Scientific's (MHG Holdings) largest shareholder puts up his 20% stake in company for sale. Dr. Paul Pereira former Executive Chairman and CEO of Danimer Scientific between August 2013 and November 2015. Under his leadership Pereira successfully turned around the company which was on the verge of bankruptcy. Successfully merging both Danimer Scientific and Meredian today known as Danimer Scientific (still under MHG Holdings). This merger allowed the company to rid itself of $110 million USD of liabilities and then implement new revenue streams and controls so that the company had chance to grow to profitability. Travelling the world and relentlessly promoting Danimer Scientific as the world's leading PHA facility Pereira successfully built the world's first commercial PHA plant.  He then renamed the PHA to Nodax™ PHA. Working with Tate and Lyle, Pereira obtained third party verification of scalability in addition to the achievements below:

• OK Marine Biodegradable certification from Vinçotte International, the first such validation awarded to a biopolymer company
• Revenue-stream expansion into new biopolymer R&D and toll manufacturing
• Third-party verification of Danimer Scientific's (MHG Holdings) ability to scale up biopolymer production to meet global demand
• Vinçotte certifications and statements of aerobic and anaerobic compostability and biodegradability of Nodax™ PHA in soil, freshwater, saltwater, and industrial and home compost
• U.S. FDA approval of Nodax™ PHA for food contact and classification of the substance, after disposal, as non-hazardous waste

Under Pereira's tenure progress continued resulting in 2018 where PepsiCo and Danimer Scientific jointly received the Innovation in Bioplastics Award from the Plastics Industry Association. The award recognised the bio-based flexible packaging that PepsiCo developed using Danimer Scientific's industrial compostable resins. Other companies that Pereira have worked with include Coca-Cola, Abbott labs, Genpak, Polymer Group (PGI), Proctor Gamble, Honeywell, Mars, Nestle, Solo/Dart, Ferrero, Lego, BASF, SC Johnson just to name a few Fortune 100 companies. His work also involved Piper Jaffray, Morgan Stanley, Stifel, Cary Street Partners, Merchant Bank and Suntrust Bank.

After 2 years of litigation ongoing with Danimer Scientific and counter law suits in federal courts with Danimer Scientific (MHG Holdings), Pereira's 20% ownership of non-dilutive shares are for sale subject to the litigation.

Any further Enquiries for additional information please contact Dr. Paul Pereira directly at [email protected] or +1 305 934 0671

SOURCE Dr. Paul Pereira