The Netherlands: Polyethylene Furanoate Avantium to Scale-Up Plants-to-Plastics Technologies
Avantium plans to commercialise its plants-to-plastics technologies and for this purpose the company has already begun operations of its plant-based Meg demonstration plant and intends to undertake an investment decision for the construction of a new FDCA flagship plant in the Netherlands by the end of the year.
Amsterdam/The Netherlands – Avantium, a leading innovative chemical technology company dedicated to developing and commercialising proprietary technologies for the production of chemicals from renewable sources, recently reported its 2020 half year results.
Key Business Developments in the First Half of 2020
1. Avantium Renewable Polymers continues to work towards taking an investment decision by the end of 2020 on the construction of a FDCA (furandicarboxylic acid) flagship plant;
• In January 2020, Chemie Park Delfzijl was selected as the location for the flagship plant;
• In the second quarter of 2020, the second part of the engineering phase (front-end engineering design) of the FDCA flagship plant commenced;
• Discussions with potential strategic partners are ongoing.
2. In the first half of 2020, Avantium Renewable Chemistries successfully completed commissioning and start-up of its plant-based Meg (mono-ethylene glycol) demonstration plant.
3. Avantium Catalysis recorded 4.73 million dollar revenues in the first half-year of 2020 (HY 2019: 5.44 million dollars). This 15 % year-on-year decline is attributable to the impact of Covid-19.
Tom van Aken, Chief Executive Officer of Avantium, comments: “We have focused our efforts on the execution of our strategy of commercialising our plants-to-plastics technologies. We continue to work towards making an investment decision on the FDCA flagship plant by the end of the year, and our plant-based Meg demonstration facility is now operating. With three pilot plants operational we have made good progress in developing and diversifying our business. We have recorded somewhat lower revenues in our Catalysis business, and we have taken steps to offset this by effectively managing our cash without loss of focus or compromising our progress. The health and safety of our employees, partners and contractors has been our top priority throughout the coronavirus pandemic. We adopted stringent measures early on to minimise the risks of transmission. In the first half of 2020, the Covid-19 pandemic had limited impact on our business.”
Avantium focuses on commercialising its two lead products – FDCA (furandicarboxylic acid) and plant-based Meg (mono-ethylene glycol), the two building blocks used to produce PEF (polyethylene furanoate). The company is also focusing on scaling up FDCA to commercial scale first, followed by the commercialisation of plant-based Meg.