IHS Chemical Week

Avantium raises €36 million for commercial-scale PEF facility

12:20 PM MDT | June 11, 2014

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 Venture...

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