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ester baiget

T2 · manager / operator

CEO of Novonesis (merged Chr. Hansen and Novozymes), previously spent 25 years at DSM in chemicals. Chemical engineer with MBA, Spanish/Catalan leading a Danish-headquartered global bio-solutions company. Focused on replacing fossil-based chemicals with nature-based alternatives via enzymes and microbes.

1 call·1 name·100% bull·last heard 11 months ago·In Good Company with Nicolai Tangen
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

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1sthigh conviction
$NVZMYNovonesisposition

Novonesis CEO outlines $1T specialty chemicals disruption via bio-solutions with 37% EBITDA margins

Novonesis addresses a $60B biosolutions market and $1T specialty chemicals market, growing high-single digits by outpacing end-markets 2-4x, with 37% EBITDA margins driven by pricing discipline (1-2% annual price contribution), 10% revenue R&D spend, 100K+ strain library, and AI-accelerated protein design; new frontiers include carbon capture, plastic recycling, and specialized proteins.

In Good Company with Nicolai Tangen2025-11episode →

most discussed · click a bar to filter

  • $NVZMY

recurring themes

  • Advanced Manufacturing2
  • AI Drug Discovery1
  • Public Markets & Valuation1
  • Tech Regulation & Antitrust1
1 total
$NVZMY
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Novonesis
HIGHester baiget·In Good Company with Nicolai Tangen·11 months ago·Ester Baiget - CEO of Novonesis | Podcast | In Good Company | Norges Bank Investment Management· position
Novonesis CEO outlines $1T specialty chemicals disruption via bio-solutions with 37% EBITDA margins
Novonesis addresses a $60B biosolutions market and $1T specialty chemicals market, growing high-single digits by outpacing end-markets 2-4x, with 37% EBITDA margins driven by pricing discipline (1-2% annual price contribution), 10% revenue R&D spend, 100K+ strain library, and AI-accelerated protein design; new frontiers include carbon capture, plastic recycling, and specialized proteins.
"We are the leading bio solutions company. We silently touch with our enzymes with our microbes more than two billion people every day... the biosolution market it is um 60 billion…"
0:50
9
AI Drug Discoverytailwind
AI cuts industrial enzyme design from 1 year to seconds using proprietary 100K strain library
Novonesis leverages its library of 100,000+ documented microbial strains linked to field performance data to train AI models that predict protein structures in seconds versus one year of lab work, creating a data moat that accelerates R&D across food, detergents, biofuels and pharma applications.
8
Advanced Manufacturingtailwind
Bio-solutions target $1T specialty chemicals market with 8% CO2 reduction potential
Industrial biotechnology can replace fossil-based chemicals across a $1T specialty chemicals market, potentially reducing global CO2 emissions by 8% and generating $800B economic profit by 2035 using existing bio-solutions, but adoption speed hinges on regulatory reform.
7
Public Markets & Valuationtailwind
Foundation ownership enables 37% EBITDA margins and decade-long R&D horizons
Novo Nordisk Foundation's controlling stake allows Novonesis to maintain 10% revenue R&D investment, accept 37% EBITDA margins, and make decade-long capacity decisions without quarterly pressure, creating a structural advantage over chemically-incumbent competitors.
7
Tech Regulation & Antitrustheadwind
Europe's 6-8 year bio-solution registration vs 6 months in Singapore creates competitive disadvantage
Regulatory frameworks designed for fossil-based chemicals delay bio-solution deployment: Europe takes 6-8 years to register a microbe for fertilizer replacement versus 2 years in Brazil and 6 months in Singapore, while the US and China are moving faster, creating a geographic arbitrage for bio-manufacturing investment.
6
Advanced Manufacturingtailwind
Enzymatic PET depolymerization enables infinite recycling but requires value chain build-out
Enzymes can break PET into monomers for infinite recycling with lower energy, but commercialization depends on external milestones: collection infrastructure, processing plants, and regulatory approval; Novonesis invests only when end-markets are ready, as seen with 10-year lag for biomass-to-ethanol.