Avantium N.V., a leading technology company in renewable chemistry, announces that its subsidiary, Avantium Renewable Polymers, has signed a patent licence agreement with Eastman Chemical Company for the right to operate under Eastman’s FDCA-related patent portfolio.
The Company believes that this patent licence agreement further paves the way for the commercial production of FDCA (furandicarboxylic acid) and PEF (polyethylene furanoate) from Avantium’s FDCA flagship plant, which, dependent on a positive final investment decision, is planned to start up in 2023. The licence will also be available for any subsequent industrial scale facility built on the basis of Avantium’s FDCA and PEF technology. Under the agreement, Avantium will pay Eastman a licensing fee and ongoing royalty payments related to manufactured volumes. Payments will be partly made in Avantium shares. Avantium CEO Tom van Aken comments: “We are delighted that Eastman has granted us this licence. With access to these patent rights, we help safe guard our leading position in the field of FDCA and PEF. We look forward to growing our partnership with Eastman in the coming years.”