AVA-CO2 spins out 5-HMF firm

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In Switzerland, AVA-CO2 Schweiz AG has created a new subsidiary to take over its biobased 5-hydroxymethylfurfural activities, effective immediately. AVALON Industries will handle application development for 5-HMF and prepare for production scale-up via AVA-CO2’s Hydrothermal Processing technology. AVA Biochem BSL AG, which operates a 5-HMF plant at Muttenz, Switzerland, becomes an AVALON Industries subsidiary and will continue to focus on 5-HMF production for the fine chemicals market.

5-HMF has applications in chemical, pharmaceutical, and food industries. It can be used to produce 2,5 furandicarboxylic acid and polyethylene furanoate.

Meanwhile, AVA-CO2 has also sold the Hydrothermal Cabonisation intellectual property rights to International Power Invest AG, a renewable energy holding company, for an undisclosed sum. The deal included AVA-CO2’s demonstration plant. IPI has invested in the Innovationspark Vorpommern in Relzow, Germany, where there are “excellent synergies” with other industrial partners that can accelerate roll-out of the HTC technology.

AVA-CO2 will now operate as a holding company. It says the new structure will enable it to focus on biochemistry.