Amsterdam, 12 June, 2018 – Avantium N.V., (Euronext Amsterdam and Brussels: AVTX) a leading technology development company and forerunner in renewable chemistry, has started construction of a new demonstration plant that will help advance the production of bio-based mono-ethylene glycol (MEG) made directly from renewable sugars.
As MEG is a component for making everyday consumer goods, such as PET and PEF plastics and polyester textiles, the development of an environmentally friendly plant-based alternative has strong potential. Today, more than 99% of MEG is produced from fossil resources and the market demand for this product is expected to grow from 28 million to 50 million tons in the next 20 years.
“Our novel single-step process can finally fulfil this demand in an environmentally sustainable manner that both consumers and leading brands have been seeking. I am proud of our team for making this important technological breakthrough. This enables renewable products growth for consumers that increasingly demand products brought to them in a responsible manner,” said Tom van Aken, Chief Executive Officer of Avantium.
The new plant will use Avantium’s pioneering Mekong technology to convert renewable sugars into bio-based MEG. The plant – part of a previously disclosed €15-20 million investment in our most advanced technologies – will be operational in 2019, employing up to 20 people.
Alongside this important investment decision by Avantium, the European Innovation Council has selected the Mekong technology as part of its €146 million investment in top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally. “We are honored to be selected among the 79 innovative projects following face-to-face interviews with a jury of innovators, entrepreneurs and venture capitalists,” said Van Aken.
The objectives of the demonstration plant are to scale up the novel bio-MEG technology, validate the technical and economic feasibility of the process, and to collect data to execute an environmental life-cycle analysis (LCA) quantifying the sustainability benefits of the Avantium technology.
“This is a major step forward in the development of our Mekong technology,” said Zanna McFerson, Chief Business Development Officer of Avantium. “In addition to the environmental benefits, this demonstration plant will replicate commercial scale conditions of producing cost-effective bio-MEG; a drop-in product identical to the fossil-derived product.
We are exploring partnership opportunities in bringing this technology to full-scale commercialization globally.” In parallel to this new development, Avantium is nearing completion of a biorefinery pilot plant for its Zambezi technology that produces high-purity glucose and lignin from non-food
biomass. This biorefinery is located in Delfzijl, the Netherlands.
Avantium is a leading technology development company and a forerunner in renewable chemistry. We develop technologies that enable the production of sustainable products from bio-based raw materials. We work in partnership with like-minded companies and academic institutions around the globe for revolutionary renewable chemistry solutions from invention to commercial scale. We also help our clients in catalytic research by providing proprietary systems and services to improve efficiencies and deliver increased sustainability, growth and profits. Synvina, a joint venture between BASF and Avantium, aims to commercialize the YXY technology to produce renewable FDCA and PEF resin, a 100% bio-based and fully recyclable plastic material that is set to become the next-generation packaging material. Avantium shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX). Its offices and headquarters are in Amsterdam, the Netherlands. With more than 160 highly skilled colleagues representing over 20 nationalities, Avantium fosters a dynamic and enthusiastic workplace that is constantly seeking new ways to improve and expand the
impact of advanced catalytic research and technology.
About the European Innovation Council
Launched this year under the European Union’s research and innovation programme Horizon 2020, the European Innovation Council (EIC) is an initiative that supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally. A central part of the EIC pilot targets radically new, breakthrough products, services, processes or business models that open up new markets Between 2018 and 2020, the EIC pilot will provide €2.7 billion to breakthrough, market-creating innovations under Horizon 2020.
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