Avantium completes spin-off of Parana Materials
In the Netherlands, biobased chemicals producer Avantium has completed the spin-out of its Parana Technology business into Parana Materials B.V. The new, independent company is focused on the development and commercialization of plant-based, high-performance polyesters such as poly(isosorbide succinate), poly(isosorbide oxalate), poly(ethylene-co-isosorbide terephthalate) and poly(ethylene-co-isosorbide furanoate) (PEIF).
The Parana Technology portfolio is distinct from Avantium’s furandicarboxylic acid and polyethylene furanoate, branded as releaf®, technology, which remains fully within Avantium. The transaction is part of Avantium’s strategy to focus resources and investments on its core FDCA and PEF business while enabling other promising technologies in its portfolio to pursue independent growth and commercialization pathways.
As part of the transaction, Avantium has transferred the assets associated with Parana Technology to Parana Materials, including intellectual property, know-how, projects and a dedicated team. Parana Materials has been established at Brightlands Chemelot Campus in Geleen, the Netherlands, and starts its next phase with dedicated leadership, funding and infrastructure.
Category: Chemicals & Materials
