Avantium Raises €36M Investment from Swire, The Coca-Cola Company, DANONE and ALPLA
Summary
Tom van Aken, CEO Avantium, stated: "Closing this financing round with Swire, The Coca-Cola Company, Danone, ALPLA and our existing investors underpins their commitment to making PEF bottles a commercial success. The technology that Avantium supplies represents a pathway to the next generation of bio-based packaging materials, and has huge potential application for our existing bottling businesses." Avantiums breakthrough technology continues to offer a promising pathway for supporting both our efforts to commercialize renewable, plant-based plastics and develop unique properties for packaging to drive new growth. The company develops and commercializes YXY - the brand name for its cost competitive technology platform to catalytically convert plant based materials into biobased chemicals and bioplastics like PEF. These properties enable new packaging innovations to make lighter, thinner, smaller and stronger bottles, to extend product shelf life and to provide supply chain benefits.