Advantage Capital Invests $6.5 Million in Danimer Scientific, Supporting Company’s Growth in Rural Georgia

Danimer looks to expand existing HQ and bring new jobs to rural
Georgia, underscoring the economic and community development impact of
the Georgia Agribusiness and Rural Jobs Act (GARJA)

NEW ORLEANS–(BUSINESS WIRE)–Advantage Capital today announced a $6.5 million investment in Danimer
Scientific, a leading biotechnology company producing biodegradable and
compostable polymers used in consumer and industrial products. The
investment was made through the GARJA program and supports the company’s
anticipated growth as it seeks to boost capacity and significantly
increase its workforce at its Bainbridge, GA location over the next few
years.

“The Georgia Agribusiness and Rural Jobs Act was created to bring
investment capital and jobs to the more rural parts of the state,” said
State Representative Jay Powell (R-Camilla). “Danimer’s growth is not
only helping to solve key environmental issues facing the world today
but is also bringing additional high-quality jobs to the local community
of Bainbridge.”

Bainbridge, with a population just north of 12,000, faces many of the
same challenges confronting towns, businesses and residents across
Georgia’s rural areas. The loss of both residents and jobs looms large.
And as many rural communities are still struggling to recover from the
2008-2009 recession, barriers to investment capital make it difficult
for rural businesses to compete, expand, and create good quality jobs.

The investment in Danimer, currently one of the largest employers in the
region, will enable the company to increase production capacity which
will require many new employees, most hired from the surrounding area.
Three-fourths of the company’s anticipated new jobs will be accessible
to those with a high school degree or equivalent, helping to grow the
local work force. The company also provides specialized training
programs, helping to close any local skills gaps and ready employees for
upward growth and mobility.

“I grew up in Bainbridge and am proud of the work we are doing at this
company,” said John “Jad” Dowdy, CFO of Danimer. “Our employees work
hard every day to create products that lead to a cleaner, more
sustainable environment by replacing traditional petroleum-based
plastics that are neither compostable nor biodegradable. This investment
will allow us to more than double our capacity, hire new employees, and
continue Danimer’s rapid growth.”

The Danimer investment is Advantage Capital’s first investment through
the GARJA program, which was designed to bring private capital to rural
Georgia, helping businesses like Danimer secure the financing they need
to grow. The GARJA capital served to anchor a larger $11 million
cumulative financing, with the balance provided by an affiliate of
People Incorporated of Virginia, a community action agency serving the
southeast United States.

“This is our first investment through the Georgia Agribusiness and Rural
Jobs Act. Our participation in GARJA allowed us to identify Danimer’s
growth opportunity, and then build a comprehensive financing package to
meet the company’s need,” said Abhi Chandrasekhara of Advantage Capital.
“We are excited to continue investing across the state to create
considerable impact, strengthen the local economy, and continue job
growth in rural parts of the state.”