Avantium spins off bio-polyester unit Parana Materials with pilot plant
Dutch chemicals technology group Avantium has carved out its Parana bio-polyester technology into an independent company, Parana Materials, based at Brightlands Chemelot Campus in Geleen. Parana will lease and operate Avantium's existing polymerisation pilot plant, with Avantium retaining ownership of the installation and a minority stake in the new company. Funding comes from LIOF Participatiefonds, the founders, the Just Transition Fund and the Dutch DEI+ innovation scheme, though amounts were not disclosed.
Why this mattersAvantium narrows its focus to FDCA and PEF while a dedicated vehicle advances renewable polyesters aimed partly at packaging, a common pattern for scaling bio-based material platforms.
- Avantium transfers its Parana polyester technology, IP, projects and a dedicated team into new independent company Parana Materials.
- Parana Materials is based at Brightlands Chemelot Campus in Geleen and leases Avantium's existing polymerisation pilot plant, which Avantium continues to own.
- Funding comes from LIOF Participatiefonds, the founders, the Just Transition Fund and the DEI+ Dutch innovation scheme; amounts undisclosed.
- Avantium retains a minority stake in Parana Materials and keeps access to the pilot plant for its own FDCA and PEF technology.
- Former Avantium technology director Gert-Jan Gruter joins Parana Materials as CTO; Willem-Jan Meijer, previously of Avantium and dab.bio, becomes CEO.
- Parana's renewable polyesters, including PISA, PISOX, PEIT and PEIF, target applications in packaging, consumer goods and speciality materials.
Sources
industrielinqs.nl
NL