Innovative sugar beet processor Cosun Beet Company, part of Royal Cosun, and Avantium N.V., a leading technology company in renewable chemistry, will jointly construct and operate the first commercial plant for the production of plant-based glycols using Avantium’s Ray TechnologyTM. To this end, Cosun Beet Company and Avantium entered into a Term Sheet to establish a joint venture in which Cosun Beet Company will take a substantial share.
The Paper Bottle Company (Paboco®) – a joint venture between paper packaging material developer BillerudKorsnäs and bottle manufacturing specialist ALPLA – last Friday announced at the Paboco Pioneer Community Event in the Carlsberg Academy in Copenhagen that Avantium joins the Paper Bottle Project. Avantium will be one of the technology providers for the fully plant-based and recyclable Paper Bottle. A thin layer of Avantium’s PEF (polyethylene furanoate) will provide the Paper Bottle with the high barrier properties (the ability to withstand gas permeability through the bottle) needed for beverages such as beer and carbonated soft drinks.
Last Thursday Avantium hosted a Technology & Markets Day at its headquarters in Amsterdam, the Netherlands. The company will update the market on Avantium’s strategy and technologies, in particular that of the Synvina business unit and the commercialization of PEF, a 100% renewable and fully recyclable polymer.
Avantium develops novel technologies based on renewable carbon sources as an alternative to fossil- based chemicals and plastics. Next to developing and commercializing renewable chemistry technologies, the company also provides advanced catalysis R&D services and systems to customers in the refinery and chemical industries. The company currently has three technologies at pilot and demonstration phase. Continue reading
Dutch biochemical company Avantium will locate the new demonstration plant for its Mekong technology in Chemie Park Delfzijl, the Netherlands. The construction of the demonstration plant – with a capacity of around 10 tons of plant-based mono- ethylene glycol (MEG) – is on track, with the opening scheduled for the second half of 2019. This is an important step in commercializing the production of plant-based MEG, a fossil-free raw material for products such as plastic materials and textiles.
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.