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The Dutch chemical technology provider Avantium N.V. has completed the spin-off of its "Parana" technology into the newly founded Parana Materials B.V. The society, based at the Brightlands Chemelot Campus in Geleen, Netherlands, develops and markets bio-based polyester for packaging, consumer products and technical applications. Avantium remains involved as a minority shareholder and focuses its investments more on the production of 2,5-furandicarboxylic acid (FDCA) and polyethylene furanoate (PEF). The existing FDCA and PEF technology including the "releaf" brand remains entirely with Avantium.
Portfolio of bio-based high-performance polyesters
The outsourced portfolio includes the polyesters "PISOX", "PISA", "PEIT" and "PEIF". Their production should be possible with commercially available monomers such as isosorbide, amber and oxalic acid as well as bio-based monoethylene glycol (Bio-MEG) and with the consumption of existing manufacturing vegetation. In addition to synthesis, the methodology concept also includes the processing and recycling of the polymers.
According to the company, the "PISOX" polyesters based on oxalic acid should be degradable under marine conditions and have the possible to a negative CO₂ stability. Avantium does not name test conditions or quantitative results. "PISA", "PEIT" and "PEIF" focus on mechanical and thermal material traits in connection with bio-based raw material components. Packaging, consumer goods and special applications are mentioned as areas of consumption.
Transfer of personnel, property rights and pilot methodology
The transaction transferred intellectual property, technical expertise, research projects and an associated team to Parana Materials. Avantium retains a minority stake. The level of participation and financial transaction terms were not made general.
Parana Materials is also taking over the operation of Avantium's previous polymerization pilot plant under a lease. The plant remains owned by Avantium and is to be utilized to research work, scaling new materials, customer trials and contract manufacturing to third parties. Avantium can continue to consumption the polymerization capacities to its FDCA and PEF activities. With the new operating model, the company combines a reduction in its running costs.
regulation and Funding
Willem-Jan Meijer, who previously performed regulation tasks in strategy research, licensing and marketing of sustainable technologies, will take over the regulation of Parana Materials. Gert-Jan Gruter, developer of "Parana" methodology and previous Chief methodology Officer at Avantium, is moving to the new company as Chief methodology Officer and is one of its founders.
The founders and the Dutch regional research fund LIOFParticipatiefonds participate in the financing. There are also funding commitments from the Just Transition Fund (JTF) and the Demonstration Energy and Climate Innovation (DEI) program. The amount of the investments and subsidies was not specified. The funds are intended to support the further research, manufacturing scaling and commercial testing of polyester technologies.
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