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Business
Avantium Gets Cash Injection
by Alexander H. Tullo
June 16, 2014
| A version of this story appeared in
Volume 92, Issue 24
High-throughput R&D specialist Avantium will receive $50 million in financing from a consortium of firms, including the food and beverage giants Coca-Cola and Danone. Avantium says it will use the proceeds for the validation of polyethylene furanoate (PEF) polymers as well as for the engineering and design of the first PEF plant. PEF is a biobased polyester made from furan dicarboxylic acid rather than terephthalic acid, used in traditional polyethylene terephthalate bottles and packaging.
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