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EnviroTech :: Innovation

Avantium raises €36 million toward first commercial-scale PEF facility

4:04 AM MDT | June 11, 2014 | Francinia Protti-Alvarez

Avantium (Amsterdam) has closed a €36-million ($50 million) financing round backed by a consortium of investors including Swire Pacific, Coca-Cola, Danone, and Alpla, as well as existing shareholders, the company has announced. The investment will enable Avantium to complete the industrial validation of polyethylene furanoate (PEF) and finalize the engineering and design of the first commercial-scale plant for the product, the company adds. Avantium's shareholders include Sofinnova Partners, Capricorn Venture Partners, ING Corporate Investments, Aescap...

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