Avantium to pursue IPO in wake of successful engine test for new biofuel and extension of BP pact

In the Netherlands, Avantium, a spin-off from Shell, announced that it would pursue an IPO after the completion of a successful proof-on-concept engine test for a new proprietary biofuel, and the extension of a strategic research partnership with BP.

BP also has strategic biofuels partnerships with D1 Oils relating to African jatropha development, and with DuPont relating to second-generation butanol production.

Avantium provides R&D services and tools to more than 70 companies in the energy, chemicals and pharmaceutical industries, including BP, Royal Dutch Shell, Sasol, Pfizer, Boehringer Ingelheim and GlaxoSmithKline.

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