𝐀𝐯𝐚𝐧𝐭𝐢𝐮𝐦 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐬 𝐒𝐩𝐢𝐧-𝐨𝐮𝐭 𝐨𝐟 𝐏𝐚𝐫𝐚𝐧𝐚 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐢𝐧𝐭𝐨 𝐏𝐚𝐫𝐚𝐧𝐚 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬

Avantium N.V., a leader in renewable and #circularpolymermaterials, today announced the completion of the spin-out of its #ParanaTechnology into Parana Materials B.V. Parana Materials is a new, independent company focused on the development and commercialization of #plantbasedhighperformancepolyesters such as PISA, PISOX and PEIT/PEIF.

The Parana Technology portfolio is distinct from Avantium's #FDCA and #PEF (branded as #releaf®) technology, which remains fully within #Avantium. The transaction is part of Avantium's strategy to focus resources and investments on its core FDCA and PEF business while enabling other promising technologies in its portfolio to pursue independent growth and commercialization pathways.

Parana Technology enables the production, application and #recycling of renewable, high-performance polyesters through simpler and more cost-effective synthesis routes using commercially available monomers such as #isosorbide, #succinic- and #oxalicacid, and #bioMEG and production in existing industrial assets. The technology portfolio includes oxalic acid-based #PISOXpolyesters, which offer attractive sustainability characteristics, including marine degradability and the potential for a carbon-negative footprint, as well as PISA, PEIT and PEIF polyesters, which combine high mechanical and thermal performance with renewable content for packaging, consumer goods and specialty applications.

The technology has attracted interest from leading global consumer brands and materials innovators.

As part of the transaction, Avantium has transferred the assets associated with Parana Technology to Parana Materials, including intellectual property, know-how, projects and a dedicated team. Among the founders of Parana Materials is Gert-Jan Gruter, currently Avantium’s Chief Technology Officer and the inventor of the Parana Technology, who will transfer to the new company following completion of the transaction as Chief Technology Officer of #ParanaMaterials.

Parana Materials will be led by Willem-Jan Meijer. Willem-Jan has more than a decade of experience in strategy, licensing, business development and the commercialization of #sustainabletechnologies, including senior leadership positions at Avantium and dab.bio. Avantium will retain a minority shareholding in Parana Materials, allowing Avantium to participate in future value creation while maintaining focus on its strategic priorities.

Parana Materials has been established at Brightlands Chemelot Campus in Geleen, the Netherlands, and starts its next phase with dedicated leadership, funding and infrastructure. The company will assume responsibility for the operation of Avantium's polymerization pilot plant unit under a lease arrangement.

source : #Avantium