“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).
Synvina, the joint venture between Avantium and BASF, plans to extend the pilot phase in order to optimize future commercial-scale production. The company headquartered in Amsterdam has now completed a broad feasibility assessment for commercial-scale production of FDCA (furandicarboxylic acid) in its Reference Plant intended to be built in Antwerp. FDCA is the main building block for the new polymer PEF (polyethylenefuranoate). The assessment looked at product performance, market appetite and technical process.
Tennessee-based Eastman Chemical Company and Origin Materials (formerly known as Micromidas) have entered into a non-exclusive license agreement for Eastman to license its proprietary 2,5-Furandicarboxylic Acid (“FDCA”) and FDCA derivatives production technology from renewable resources to Origin Materials. Origin also recently purchased an oxidation pilot plant from Eastman that will enable Origin to demonstrate the licensed technology. Terms of the license agreement and pilot plant sale were not disclosed.