Milestones achieved in Renewable Chemistries. Double-digit growth in Catalysis.
AMSTERDAM, 31 July 2018 - Avantium N.V. (Euronext Amsterdam and Brussels: AVTX), a
leading technology development company and forerunner in renewable chemistry, today
reports 12% growth in revenues in the first half of 2018, as strong demand for its Catalysis
offerings continues. Milestones were achieved in Avantium's key Renewable Chemistries
programs, Dawn Technology™ (Zambezi) and Mekong.
Overview first-half 2018:
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Zambezi program rebranded to Dawn Technology™. Pilot biorefinery opened on schedule
with a subsidy of €1.8 million from the Province of Groningen. -
Consortium agreement signed bringing together partners committed to developing a
commercial scale Dawn Technology™ biorefinery in Delfzijl, the Netherlands. - Construction started of Mekong bio-monoethylene glycol demonstration plant.
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Mekong demonstration plant awarded €2.5 million grant by the European Innovation Council
under the Horizon 2020 SME instrument. - Consolidated revenues up 12% to € 6.4 million. Catalysis: revenues up 11%.
- Net results improved to € -6.5 million in the first half of 2018 (H1 2017: € -9.1 million).
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Since Avantium in January 2018 announced a delay of 24-36 months to start-up the reference
plant of Synvina, Avantium/BASF renewable plastics joint venture, pre-engineering studies of
the intended FDCA reference plant have been initiated and discussions between Synvina and
potential customers are progressing; €25 million EU-BBI grant remains in place. -
Full year focus: successfully operate the Dawn Technology™ biorefinery; construct the
Mekong demonstration plant; continue growth in Catalysis; and continued focus on providing
full support to Synvina in executing its strategy.
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Avantium Holding BV published this content on 31 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 July 2018 16:07:02 UTC