BASF yesterday notified Avantium of its exit from their Synvina joint venture, effective 15 January 2019. Avantium continues to disagree with BASF’s interpretation of the joint venture agreement. The two companies are still discussing the terms and conditions of an exit.
“Avantium is a big story in the bioeconomy, but the relationships with big companies as investors are not easy”. To say it at the Sustainable & Circular Bioeconomy Conference in Brussels on October 22 was Jos Peeters, managing partner, founder and director of Capricorn Venture. Indeed, Avantium and BASF are in a dispute about the future of their Synvina joint venture. The companies disagree on the timing for the fulfilment of the criteria to invest in the commercial-scale plant for FDCA (furandicarboxylic acid).
Amsterdam-based Avantium, a leading technology development company and forerunner in renewable chemistry, will officially open a pilot biorefinery for its Zambezi technology in Delfzijl, Netherlands. Opening ceremonies will take place in Amsterdam on 10 July and in Delfzijl on 13 July. The province of Groningen is supporting the pilot biorefinery with a RIG (‘Regionale Investeringssteun Groningen’) subsidy of €1.8 million.
Dutch biochemical company Avantium joined forces with South Korea-based R&F Chemical to boost its Catalysis business in the region. “South Korea – Avantium said in a note – has a highly-advanced technology and chemical sector, and several established national research facilities offering the perfect environment for Avantium’s Catalysis business with a strong focus on catalysis research”.
Avantium, the Dutch forerunner in renewable chemistry, locates a new pilot biorefinery at Chemie Park Delfzijl, in the Netherlands. Avantium and chemical giant AkzoNobel have signed a contract for the pilot plant accommodation and the supply of various facilities and services. The pilot plant will validate the technical and economic feasibility of Avantium’s Zambezi process, which aims to convert woodchips and other second generation biomass into raw materials for the chemical industry. This is an essential step in scaling up the technology from lab to commercial operations.
The European bioeconomy takes another step forward thanks to the successful initial public offering of Avantium which raised €103 M on Euronext Amsterdam and Euronext Bruxelles. Sofinnova Capital VI – Sofinnova Partners states – remains the main shareholder after the IPO. The initial public offering was multiple times oversubscribed.
Avantium, a leading chemical technology company and forerunner in renewable chemistry, partnered with AkzoNobel, Chemport Europe, RWE and Staatsbosbeheer for the development of a reference plant at the Chemie Park Delfzijl. This important step marks the next stage of a collaborative effort to determine the feasibility of a wood to chemicals biorefinery in Delfzijl.
Avantium, the Dutch leading chemical technology company and forerunner in renewable chemistry, has acquired the assets of Liquid Light Inc., a renowned developer of electrochemical processes. Liquid Light has developed proprietary process technology to make major chemicals from low-cost, globally-abundant carbon dioxide (CO2). The acquisition combines the technologies of both Liquid Light and Avantium to develop a world leading electro-catalysis platform and to commercialize new process technologies using CO2 as feedstock to produce sustainable chemicals and materials. The integration of the Liquid Light assets into Avantium is complete and effective immediately. Financial details of the transaction were not disclosed.
BASF and the Dutch leading chemical technology company Avantium yesterday announced that they have established a joint venture (JV) called Synvina for the production and marketing of furandicarboxylic acid (FDCA) produced from renewable resources (fructose from plants as feedstock rather than conventional oil derivatives), as well as marketing of polyethylenefuranoate (PEF), based on this new chemical building block.
Toyobo, one of Japan’s top makers of fibers and textiles, and Avantium, a Dutch scale-up renewable chemicals company that develops and commercializes a next generation biobased chemicals and bioplastic, yesterday announced their partnership on PEF polymerization and PEF films. The two companies have jointly developed thin films made from PEF, a 100% biobased plastic based on Avantium’s proprietary YXY technology for the production of FDCA.