UPM acquires Ray Technology intellectual property from Avantium, broadening its bio-based glycols IP portfolio
In Finland, UPM announces that it has reached an agreement with Avantium N.V. to acquire the intellectual property related to Avantium’s Ray Technology, a process for the production of bio-based mono-ethylene glycol (MEG) and mono-propylene glycol (MPG) from plant-based sugars.
The Finnish firm said the transaction comprises Avantium’s patent portfolio and invention disclosures related to Ray Technology and is for UPM not material in financial terms. The strategic value lies in the expansion of UPM’s intellectual property position across the conversion of lignocellulosic biomass to bio-based glycols, the firm added.
The acquisition broadens the scope of UPM’s IP portfolio safeguarding biomass-to-glycols conversion pathways and adds optionality for future process configurations as UPM continues to scale its bio-based chemicals business.
“This acquisition is a focused step that strategically expands the scope of our IP portfolio in bio-based glycols and strengthens our freedom to operate as we scale the industrial production of renewable chemicals,” said Harald Dialer, Chief Technology Officer at UPM & Executive Vice President UPM Next Generation Renewables.
Category: Fuels
