Avantium has sold its bioaromatics patent portfolio to The Netherlands Organization for Applied Scientific Research, TNO. The sale includes both patents and know-how for technologies that produce bio-derived products for polymers and coatings. These technologies lie outside Avantium’s strategic focus and will now be further developed by TNO.
Avantium has an extensive portfolio of renewable technologies focused on plant-based polyesters. The Company continuously assesses the best possible options for an innovation including its divestiture to a suitable party. Zanna McFerson, Managing Director, Avantium Renewable Chemistries said: “This bioaromatics patent portfolio fits well into TNO’s development strategy. Avantium will continue to support TNO in this area and can provide proprietary single flow testing equipment to accelerate TNO’s R&D efforts.”
Avantium is a leading technology development company and a forerunner in renewable chemistry. Avantium develops novel technologies based on renewable carbon sources as an alternative to fossil- based chemicals and plastics. The company currently has three technologies at pilot and demonstration phase. The most advanced technology is the YXY® plant-to-plastics–technology that catalytically converts plant-based sugars into a wide range of chemicals and plastics, such as PEF (polyethylene furanoate). Avantium has successfully demonstrated the YXY Technology at its pilot plant in Geleen, the Netherlands.
The second technology is the Dawn TechnologyTM that converts non-food biomass into industrial sugars and lignin in order to transition the chemicals and materials industries to non-fossil resources. In 2018, Avantium opened the DAWN pilot biorefinery in Delfzijl, the Netherlands. The third technology is called Ray TechnologyTM and catalytically converts industrial sugars to plant-based MEG (mono-ethylene glycol).
Avantium is scaling up its Ray TechnologyTM and the demonstration plant in Delfzijl, the Netherlands opened on November 7, 2019. 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. Avantium works in partnership with like- minded companies around the globe to create revolutionary renewable chemistry solutions from invention to commercial scale.
Avantium’s shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX). Its offices and headquarters are in Amsterdam, the Netherlands.