Avantium has sold its bioaromatics patent portfolio to The Netherlands Organization for Applied Scientific Research, TNO. The sale includes both patents and know-how for technologies that produce bio-derived products for polymers and coatings. These technologies lie outside Avantium’s strategic focus and will now be further developed by TNO. Terms were not disclosed
Avantium has an extensive portfolio of renewable technologies focused on plant-based polyesters. The Company continuously assesses the best possible options for an innovation including its divestiture to a suitable party. Zanna McFerson, Managing Director, Avantium Renewable Chemistries said: “This bioaromatics patent portfolio fits well into TNO’s development strategy. Avantium will continue to support TNO in this area and can provide proprietary single flow testing equipment to accelerate TNO’s R&D efforts.”