Progress on Avantium’s (Amsterdam / The Netherlands) YXY technology (www.xyx.com) for PEF production is proceeding apace, with one investment following another. On 5 June, the Dutch R&D group wrapped up its latest EUR 36m financing round, which will allow it to complete the industrial validation of PEF – a bio-based alternative to PET – and also finalise the engineering and design phase of its first commercial-scale plant.

The money was provided by a consortium made up of Swire Pacific, The Coca-Cola Company, Danone, Alpla as well as Avantium’s existing shareholders Sofinnova Partners, Capricorn Venture Partners, ING Corporate Investments, Aescap Venture, Navitas Capital, Aster Capital and De Hoge Dennen Capital.

Avantium already turns out PEF at its 20 t/y pilot plant in Geleen / The Netherlands (see Plasteurope.com of 22.06.2011), but the output does not suffice to meet its partners’ technical testing and market needs. Commenting on the latest investment round, group CEO Tom van Aken said, “We have successfully made PEF bottles with YXY technology that meet their needs on performance and sustainability. Now we need to scale up.” Speaking to Plasteurope.com, an Avantium spokeswoman said the group plans to commission a 50,000 t/y plant in Geleen / The Netherlands in 2017.