“Today we made a huge step towards the first commercial scale plant for PEF,” says Tom van Aken, CEO of Avantium. “We closed a financing round of €36 million ($ 50 million) from a unique consortium of Swire, The Coca-Cola Company, DANONE, ALPLA, and existing shareholders. This investment makes it possible for us to complete the industrial validation of PEF and finalize the engineering and design of the first commercial scale plant.”
PEF is a new groundbreaking polymer, made with Avantium's YXY technology. It can be used in multiple applications, like bottles, fiber and film. Avantium is working on further development and commercialization jointly with our partners The Coca-Cola Company, Danone and Alpla. PEF is 100% renewable, made from plantbased material. The barrier properties are superior to oil-based PET, enabling thinner bottles, that are lightweighting, using less material and with a smaller footprint.
In this video our investors tell why they choose to invest in Avantium and why they believe PEF is the packaging material of the future.
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