Avantium raises funds to pursue commercial-scale PEF resin plant

By Frank Esposito
Senior Staff Reporter

Published: June 6, 2014 1:42 pm ET
Updated: June 6, 2014 1:44 pm ET

Related to this story

Topics Materials, Sustainability, Beverage, Materials Suppliers

Bio-based materials and packaging firm Avantium has received $50 million in financing from a group that includes beverage giant Coca-Cola Co. and blow molder Alpla Werke Alwin Lehner GmbH.

In a June 5 news release, officials with Amsterdam-based Avantium said their firm would use the investment to advance polyethylene furanoate (PEF), a bio-based alternative to PET. The firm already is working with Coke to make bottles from the material.

The new investment will allow for industrial validation of PEF, as well as finalizing the engineering and design of the first commercial-scale plant for the product.

“PEF is a 100 percent bio-based plastic with superior performance compared to today's packaging materials and represents a tremendous market opportunity,” CEO Tom van Aken said in the release. “Our proprietary YXY technology to make PEF has been proven at pilot plant scale as we are now moving to commercial deployment.”

In addition to Atlanta-based Coke and Hard, Austria-based Alpla, firms involved in the new round of financing for Avantium include French food conglomerate Danone and British investment firm Swire Pacific.

Coke next generation materials and sustainability research director Yu Shi added in the release that Coke “believes performance and sustainability can go hand-in-hand to make a world of difference for consumers, the environment and our business.”

“Avantium's breakthrough technology continues to offer a promising pathway for supporting both our efforts to commercialize renewable, plant-based plastics and develop unique properties for packaging to drive new growth,” he added.

Avantium currently makes PEF at a pilot plant in Geleen, the Netherlands. Its first commercial-scale plant — with annual capacity of 110 million pounds — is expected to be operational in 2017.


Comments

Avantium raises funds to pursue commercial-scale PEF resin plant

By Frank Esposito
Senior Staff Reporter

Published: June 6, 2014 1:42 pm ET
Updated: June 6, 2014 1:44 pm ET

Post Your Comments


Back to story


More stories

Image

Best Places To Work: No. 1, Northstar Recycling Co. Inc.

March 3, 2015 12:29 pm ET

Employee health care benefits have been wasting away, year after year, as companies work to contain costs and keep their bottom lines in shape....    More

Image

Best Places To Work: No. 3, Sun Plastech Inc.

March 3, 2015 2:25 pm ET

Sun Plastech Inc., No. 3 on Plastics News' Best Places to Work ranking, offers so many interesting benefits and perks, it's hard to know where to...    More

Image

Bayer expands with acquisition of Germany's Thermoplast Composite

March 3, 2015 10:59 am ET

Bayer AG's Bayer MaterialScience LLC has bought composite materials specialist Thermoplast Composite GmbH based near Nuremberg, Germany.    More

Image

Bayer MaterialScience spinoff on schedule

March 3, 2015 10:14 am ET

The head of Bayer AG said the group still must decide the details to spin off its Bayer MaterialScience plastics group this year.    More

Image

P&G adding label to help guide consumers in recycling

March 2, 2015 3:29 pm ET

Procter & Gamble Co. will help prompt consumers to recycle rigid packaging by joining the Sustainable Packaging Coalition's How2Recycle Label program.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events