Cosun Beet Company and Avantium join forces with the ambition to produce plant-based glycols from sugars
DINTELOORD and AMSTERDAM, 22 April 2021, 07:00 CET – Innovative sugar beet processor Cosun Beet Company, part of Royal Cosun, and Avantium N.V., a leading technology company in renewable chemistry, announce their ambition to jointly construct and operate the first commercial plant for the production of plant-based glycols using Avantium’s Ray Technology™. 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.
Cosun Beet Company and Avantium plan to form the joint venture in 2021 with the aim to make an investment decision for the foreseen commercial plant in the first half of 2023 and commercial operations commencing in 2025. The joint venture is envisioned to be a world class producer of plant-based glycols to actively contribute to a fossil-free future.