Avantium Raises Funds for its YXY Technology to Develop 100% Recyclable Bio-based Polyester

SpecialChem - Jun 9, 2011

AMSTERDAM, the Netherlands -- Avantium has raised €30 million to advance its YXY technology for green building blocks. Avantium will use the funds for the construction and operation of its pilot plant in Geleen, the Netherlands, and for the development of green materials on basis of these YXY building blocks. Avantium has completed a €25 million financing round with new investors Sofinnova Partners, Aster Capital and De Hoge Dennen as well as existing investors Aescap Venture, Capricorn Cleantech Fund, ING Corporate Investments and Navitas Capital. In addition Avantium has secured a subsidy and innovation credit, in total €5 million, from the Dutch Ministry of Economy, Agriculture and Innovation (EL&I). Part...

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