36 Million investment brings Avantium closer to commercial scale plant for PEF
Avantium has closed a financing round from Swire Pacific, The Coca-Cola Company, DANONE, ALPLA, and existing shareholders. With this capital raise the new investors affirm their commitment to advancing PEF, Avantium’s next generation packaging material and to the YXY technology to produce PEF. The goal is to make 100% biobased plastic bottles.
Proceeds will be used to complete the industrial validation of PEF and finalize the engineering and design of the first commercial scale plant. As part of its strategy to use responsibly sourced plant based materials for PEF production, Avantium will validate the use of 2nd generation feedstock (Press Release Avantium, 5 June 2014).
Click here for the press release.
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