Tom van Aken, Chief Executive Officer of Avantium, comments: “Our focus is on those technologies with the highest value potential. Our plant-to-plastics YXY technology to produce FDCA and PEF is progressing towards commercialization.”
In January, Avantium spent € 17.4 million on the 100% acquisition of Synvina, the failed joint venture with BASF that aimed to build a PEF/FDCA plant in Antwerp. This acquisition had a negative impact on the halfyear-results of the company. Synvina is now part of the new Avantium Renewable Polymers Division, led by Marcel Lubben.
The selection of the site location “in northwestern continental Europe” will be completed in the second half of 2019. Avantium wants to secure funding of € 150 million for the construction of the flagship plant and aims to make the final investment decision by the end of 2020. In the meantime, the design has already commenced with leading engineering services company Worley (formerly Jacobs Engineering) conducting detailed pre-engineering studies. “Our focus remains on delivering the milestones on our journey towards opening this flagship plant in 2023”, Van Aken says.
The most advanced technologies Mekong and Dawn are progressing towards commercialization. Avantium secured € 3 million in European Union grants and the opening of the Mekong demonstration plant in Delfzijl, the Netherlands is scheduled for November 2019.