In the Netherlands, biobased chemicals producer Avantium reports that BASF has threatened to pull out of the companies’ furandicarboxylic acid and polyethylenefuranoate joint venture over a financing dispute.
BASF informed Avantium earlier this month that it may exit Synvina unless Avantium meets an investment deadline by December 5th. Synvina was aiming to build a 50,000 metric tons per year FDCA plant at BASF’s Antwerp, Belgium chemical complex.
Avantium says it is determined to pursue the commercialization of FDCA and PEF—with or without BASF. Avantium CEO Tom van Aken notes that the joint venture is ahead of its timeline for “resolving the technical challenges that led to the postponement announced in January.”
If the joint venture is dissolved, the IP, employees, assets, and technology related to the production of FDCA and PEF will revert back to Avantium.
“Avantium and BASF are currently consulting on how to continue their joint venture Synvina, founded in 2016 and headquartered in Amsterdam,” a BASF spokesperson tells Bio-Based World News. “The consultations relate, among others, to the fulfilment of criteria to invest in a reference plant for the production of FDCA. The outcome of the consultations is open. In the meantime, the joint venture continues to operate as before.”
PEF can be used in packaging, textiles, and automotive applications.