Avantium: Biofuels Digest’s 5-Minute Guide
Company description:
Avantium is a leading renewable chemicals company that develops and commercializes next generation biobased plastics and chemicals.
The company has established over the years a leading market position in providing advanced catalysis services and systems to companies in the oil, gas, chemical and renewable sector. From 2005 onwards, Avantium has developed a proprietary technology to produce Furanics building blocks from plant based sugars, under the name YXY. These Furanics building blocks are the basis of a next-generation plant-based plastics and chemicals.
The YXY technology is a 2-step chemical, catalytic process to convert sugars to Furan-dicarboxylic acid (FDCA), a biobased alternative to terephthalic acid (TA). Avantium focuses its efforts on using FDCA to produce the polyester, Polyethylene-furanoate (PEF), a 100% biobased material that could replace Polyethylene-terephthalate (PET) in large markets such as bottles, fiber and film.
Address:
Zekeringstraat 29, 1014 BV, Amsterdam, The Netherlands
Year founded/initiation YXY Technology
2000/2005
Major Investors:
Sofinnova (Paris), Capricorn (Belgium), Aescap (Netherlands), ING (Netherlands) en Aster (Paris).
Business Model:
Avantium is the exclusive owner of its propriety YXY technology to produce chemical building blocks for making green materials.
Avantium plans to further develop and commercialize its YXY technology in collaboration with a range of partners to create a Furanics supply chain. Avantium’s strategy is to build and operate the first commercial production plant to enable the commercial launch of PEF bottles by its development partners including The Coca-Cola Company and Danone. Subsequent to the demonstration of its YXY technology at commercial scale, Avantium intends to sell licenses to chemical and polymer companies to monetize this proprietary technology platform.
Past Milestones (2009-2012):
- Closing of EUR 30 million financing in June 2011 led by Sofinnova Partners
- Construction pilot plant at Chemelot in Geleen, The Netherlands
- Successful start-up of the pilot plant
- Signing of Joint Development Partnerships with The Coca Cola Company and Danone for the development of 100% biobased PEF bottles
- Joint development agreements with Solvay and Rhodia for the development of FDCA based polyamides
Future Milestone Goals:
- Continuing design, engineering and construction of the 1st Commercial plant
- Mechanically complete and first production of the 1st Commercial plant
Competitive Edge(s):
The current process yield of Avantium’s YXY technology will allow competing on basis of price and performance with petroleum-based chemicals
Distribution, Research, Marketing or Production Partnerships or Alliances:
Avantium has currently Joint Application Development Agreements in place with TCCC and Danone for the development of 100% biobased PEF bottles and with Solvay and Rhodia for the development of FDCA based polyamides. Additionally several partnership discussions are ongoing which provides access to a diverse of sustainable downstream demand for the YXY Technology, secures feedstock supply and supports the construction of the next large industrial scale plants.
Stage:
Demonstrate the YXY process technology at commercial scale
Chief Executive Officer:
Tom van Aken
Company website:
Business Development or Sales contact:
Peter Magnus
Category: 5-Minute Guide
