Avantium NV bags money for demo plant
Green chemistry company Avantium NV has secured a €7.5m funding from the National Programme Groningen to support the construction of a 5 kilotonnes FDCA plant.
The new grant is part of a €30m financing mix that Avantium and the Groningen consortium announced this January.
FDCA is the key building block for PEF (polyethylene furanoate), a plant-based, fully recyclable plastic material that outperforms todays standard PET with regards to environmental footprint and performance. The FDCA flagship plant to be built in Delfzijl is planned to start up in 2023. This will provide around 60 jobs in the region.
Avantium and the Groningen consortium already entered into an agreement earlier this year relating to the conditional financing mix of €30m for the construction of the FDCA plant. The Groningen consortium comprises of the Province of Groningen, Groningen Seaports and regional investment funds NOM (Investment and Development Agency for the Northern Netherlands), FondsNieuweDoen, Investeringsfonds Groningen and Groeifonds.
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