Avantium raises funds to make bio-PEF investment

ERJ staff report (DS)

Amsterdam -- Avantium said it has raised EUR 30 million to advance its YXY technology for green building blocks. Avantium will use the funds for the construction and operation of its pilot plant in Geleen, the Netherlands, and for the development of green materials on basis of these YXY building blocks.

The new plant is designed to demonstrate Avantium's YXY technology which enables the cost effective production of Furanics building blocks for green materials and fuels. The pilot plant will also be able to produce larger volumes of YXY building blocks for application development of new, green plastics, chemicals and materials. This will facilitate the development and commercialisation of Avantium's next-generation polyester: PEF. PEF is a new to the world polymer that can be made out of plant material instead of oil.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Avantium