News International Sugar Journal

Avantium secures U$50 million to produce PEF resin on commercial scale [Registered]

Avantium recently announced that it secured €36 million ($50 million) from a group consisting of Swire Pacific, Coca-Cola, DANONE, ALPLA, and existing shareholders. According to Avantium CEO Tom van Aken, the investment will be used to advance its proprietary YXY technology to make polyethylene furanoate (PEF), a biobased alternative to PET. The firm already is working with Coca-Cola to make bottles from the material. PEF is a 100% biobased plastic that exhibits superior barrier, thermal and mechanical properties compared to available packaging materials. Furthermore, PEF offers great potential for in materials as fibers, films and other applications. Avantium currently makes…

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