Avantium: Parana Polyester Technology Spun Off into Independent Company

Dutch chemical technology company Avantium N.V. has completed the spin-off of its "Parana" technology into the newly established Parana Materials B.V. Based at the Brightlands Chemelot Campus in Geleen, the Netherlands, the company develops and commercialises bio-based polyesters for packaging, consumer goods and technical applications. Avantium retains a minority stake and is increasingly focusing its investments on the production of 2,5-furandicarboxylic acid (FDCA) and polyethylene furanoate (PEF). Its existing FDCA and PEF technologies, including the "releaf" brand, remain entirely with Avantium.

Portfolio of Bio-Based High-Performance Polyesters
The spun-off portfolio includes the polyesters "PISOX", "PISA", "PEIT" and "PEIF". These materials are intended to be produced using commercially available monomers such as isosorbide, succinic acid and oxalic acid, as well as bio-based monoethylene glycol (Bio-MEG), while making use of existing industrial equipment. In addition to polymer synthesis, the technology concept encompasses polymer processing and recycling.

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According to the company, the oxalic acid-based "PISOX" polyesters are expected to be biodegradable under marine conditions and have the potential to achieve a negative carbon footprint. However, Avantium has not provided details of the testing conditions or quantitative results supporting these claims. For "PISA", "PEIT" and "PEIF", the focus is on combining mechanical and thermal material properties with bio-based raw material content. Potential applications include packaging, consumer goods and specialist applications.

Transfer of Personnel, Intellectual Property and Pilot Equipment
As part of the transaction, intellectual property, technical know-how, development projects and a dedicated team have been transferred to Parana Materials. Avantium retains a minority shareholding. The size of its stake and the financial terms of the transaction have not been disclosed.

Parana Materials will also take over the operation of Avantium's existing polymerisation pilot plant under a lease agreement. The facility will remain the property of Avantium and is intended to support development activities, the scaling up of new materials, customer trials and contract manufacturing for third parties. Avantium will continue to have access to the polymerisation capacity for its FDCA and PEF activities. The company expects the new operating model to reduce its ongoing costs.

Management and Financing
Parana Materials will be led by Willem-Jan Meijer, who previously held senior positions in strategy development, licensing and the commercialisation of sustainable technologies. Gert-Jan Gruter, the developer of the "Parana" technology and former Chief Technology Officer of Avantium, is joining the new company as Chief Technology Officer and is among its founders.

Financing is being provided by the founders and the Dutch regional development fund LIOF Participatiefonds. Additional funding commitments have been secured from the Just Transition Fund (JTF) and the Demonstration Energy and Climate Innovation (DEI+) programme. The amounts of the investments and grants have not been disclosed. The funds are intended to support the further development, industrial scale-up and commercial trials of the polyester technologies.

More information: www.avantium.com, www.paranamaterials.com, liof.nl

Avantium, Amsterdam, Netherlands

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