Avantium's 2024 Full Year Results: Avantium Advances Towards Commercial Production and Sale of PEF

Avantium N.V., a leading company in renewable and circular polymer materials, today reports its 2024 full year results.

Tom van Aken, Chief Executive Officer of Avantium, said: “I am proud of our achievements in 2024. Our crowning accomplishment was completing the construction of our first-of-its-kind commercial-scale FDCA plant in Delfzijl (the Netherlands), which we celebrated with a grand opening ceremony attended by Her Majesty Queen Máxima of the Netherlands and 300 international guests. Since then, start-up activities of our FDCA Flagship Plant have commenced, and we anticipate producing the first FDCA in the coming months as we progress with the staged, safe start-up of the plant. We are confident that we have the right resources and skill sets in place to successfully start-up the FDCA Flagship Plant, enabling the commercial launch of FDCA and PEF.

As we prepare for commercial production of FDCA and PEF (branded as releaf®) in 2025, we have further focused on the development and execution of our commercial and licensing strategies, continuing to grow our extensive IP portfolio, and achieving key regulatory approvals, including the Food and Drug Administration approval of PEF for food contact applications in the United States. We have further diversified our feedstock options by developing a patented technology to convert polycotton textile waste into glucose and polyester, enabling fiber-to-fiber recycling.

The completion of the FDCA Flagship Plant resulted in cost increases and delays due to the need for extra materials and additional labor. To partly offset higher than anticipated capital expenditure on the FDCA Flagship Plant and support ongoing operating expenses, we secured an additional €116 million in financing from various sources in 2024. We greatly appreciate the continued trust of our shareholders, lenders and strategic partners, and their ongoing support to execute our strategy.

Looking ahead, our top priority for 2025 is the safe and successful start-up of the FDCA Flagship Plant. We continue to advance our FDCA/PEF-related commercial activities, while also securing our financial position by disciplined cost management, seeking additional funding, and pursuing strategic initiatives for our other activities outside the Renewable Polymer business.”

Avantium Annual Report 2024