AMSTERDAM, October 14, 2010 /PRNewswire/ -- Avantium announced today that it has started with the construction of a pilot plant at the Chemelot site (Geleen, the Netherlands). The pilot plant will produce YXY building blocks for making green materials and fuels. Avantium has developed a novel and proprietary catalytic process to convert carbohydrates into furanic building blocks under the brand name YXY. The pilot plant is expected to become operational in the first quarter of 2011. The pilot plant marks a major milestone in the commercialization of a new generation of renewable materials and fuels.
The pilot plant will demonstrate the breakthrough process developed in Avantium's labs at larger scale. Furthermore, it will produce several tons of YXY building blocks per year to support product development. Avantium is collaborating with industrial partners such as NatureWorks (a subsidiary of Cargill) and Teijin Aramid to develop novel materials on basis of its YXY building blocks. Avantium collaborates with DAF Trucks (a Paccar company) on the development of YXY fuels. The company expects to use YXY building blocks for the production of green and recyclable materials such as water and soft drink bottles, carpets, textiles, high-performance fibers, coatings and plasticizers.
Tom van Aken, CEO Avantium, commented: We are excited to take this major step in commercializing our YXY technology. Over the past years we have made tremendous progress to develop a low-cost production process to convert biomass into YXY building blocks. We believe that we have brought the technology to a point where we can be price competitive with existing plastics and fuels that are made out of oil. In parallel we have proven that you can make materials on basis of YXY that have excellent performance characteristics. With the strong market pull from corporations and consumers for green materials, the time is right for the scale-up of our technology. We look for industrial partners in the polymer, chemicals, materials and fuels sectors to support our development of YXY based materials and fuels, and help us create a truly green economy.
The pilot plant is partly funded by a EUR 1 million grant from the Dutch Ministry of Agriculture. The Ministry had a total budget of EUR 10 million for projects to realize pilot plants for the production of sustainable bio-based products and energy for the European market. To run the pilot plant and to further accelerate the commercialization of YXY, Avantium is raising additional private funding. The company expects to close a EUR 15 million round by the end of 2010.
Mr. H. van Wechem, Chairman Advisory Board Tender Bio-refinery, Retired Global Manager Innovation Research of Shell Global Solutions, commented: Avantium scored very high on all criteria defined by the Ministry. In addition to an impressive patent portfolio, they have developed a technology for a broad range of biomass feedstock. The YXY products can also be used in a wide range of applications. What I personally like about Avantium is the fact that they use a catalytic process, similar to a classical oil process, for a complete new raw-material (biomass). Avantium is a great example how a small and young company can build a unique position in an upcoming global market by using its extensive knowledge.
Avantium's pilot plant is being constructed at the Chemelot site in Geleen, the Netherlands. The site offers services and a specialized chemical infrastructure to the industrial producers, among others DSM and Sabic, on the site.
Avantium has developed YXY - a family of green building blocks for making materials and fuels that can compete on price and performance. YXY (pronounced ~ixy) is a patented technology that converts biomass into Furanics. It is the perfect solution for today's challenges as it uses carbohydrates as feedstock, enabling the manufacture of green and sustainable products. This fast and cost-effective production process is based on Avantium's catalytic technology. YXY can be implemented in existing chemical production methods. See http://www.yxy.com for more information.
Avantium is a leading technology company specialized in the area of advanced high-throughput RD. The company develops and commercializes YXY - its new brand name for chemical building blocks for making green materials and fuels that can compete on price and performance. Avantium has demonstrated the value and commercial potential of its unique technology and knowledge by collaborating with leading companies in the energy and chemical industries. Avantium has a global customer base for its profitable RD services and systems offering, including market leaders such as BP, Shell and Sasol. Avantium offices and headquarters are based in Amsterdam, the Netherlands.
CONTACT: For more information about Avantium, please contact MarietteHoogendoorn at +31-20 586-8010