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

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

New York City officials avoid taking a stand on plastic bag fee

November 20, 2014 11:28 am ET

New York Mayor Bill de Blasio's administration claimed Nov. 19 to be committed to dramatically reducing plastic bag consumption in New York City, but ...    More

Image

Agilyx facing nearly $50,000 in fines from Oregon DEQ

November 20, 2014 11:59 am ET

Agilyx Corp., a plastic waste-to-oil company, is facing nearly $50,000 in fines for alleged hazardous waste violations at its Tigard, Ore., research...    More

Image

Environmental group focusing on producer responsibility in packaging

November 20, 2014 11:04 am ET

Athens, Ga.-based environmental group Upstream is out with a new paper entitled “Advancing Local Government's Interests through Extended...    More

Image

NS Farrington 'on track' to recycle 1 ton of PE per month

November 20, 2014 10:23 am ET

A polyethylene recycling program created by N.S. Farrington & Co. has passed the 60,000 pound mark.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events