Management Strategy Avantium Sells Bioaromatics Business to TNO
The Netherlands Organisation for Applied Scientific Research, TNO has acquired Avantium’s bioaromatics business which includes patents and know-how of technologies that produce bio-derived products for polymers and coatings.
Amsterdam/The Netherlands – Avantium has recently sold its bioaromatics patent portfolio to The Netherlands Organisation for Applied Scientific Research, TNO. The sale includes both patents and know-how for technologies that produce bio-derived products for polymers and coatings. These technologies lie outside Avantium’s strategic focus and will now be further developed by TNO.
Avantium has an extensive portfolio of renewable technologies focused on plant-based polyesters. The company continuously assesses the best possible options for an innovation including its divestiture to a suitable party. Zanna Mc Ferson, Managing Director, Avantium Renewable Chemistries said: “This bioaromatics patent portfolio fits well into TNO’s development strategy. Avantium will continue to support TNO in this area and can provide proprietary single flow testing equipment to accelerate TNO’s R&D efforts.”