{"id":57759,"date":"2018-10-25T07:32:40","date_gmt":"2018-10-25T05:32:40","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=57759"},"modified":"2018-10-22T14:42:31","modified_gmt":"2018-10-22T12:42:31","slug":"basf-avantium-in-synvina-dispute","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/basf-avantium-in-synvina-dispute\/","title":{"rendered":"BASF, Avantium in Synvina dispute"},"content":{"rendered":"<p>According to a <a href=\"https:\/\/www.avantium.com\/press-releases\/2018\/avantium-and-basf-in-dispute-over-synvina\/\" target=\"_blank\">recent announcement<\/a> from Avantium, the companies disagree on the timing for the fulfillment of the criteria to invest in the commercial-scale plant for FDCA.\u00a0 After an internal strategic review, BASF has reportedly served a notice to Avantium that if the investment criteria are not fulfilled by 5 December 2018, it is entitled under the JV agreement to exit from Synvina.<\/p>\n<p>In January 2018, Synvina\u00a0announced the delay of its commercialization timeline by 2-3 years. The reference plant is expected to be operational in the 2023-2024 timeframe. The JV intends to subsequently license the YXY technology to BASF and others to enable the global industrial scale production of FDCA and PEF.<\/p>\n<p>BASF asserts that fulfillment of the investment criteria for the reference plant must be assessed in the fourth quarter of 2018, as originally envisaged in the JV agreement.\u00a0 Avantium said it disagrees with this interpretation of the JV agreement and is convinced that the extension of the PEF pilot phase logically necessitates a postponed final assessment.<\/p>\n<p>The companies are said to be discussing possibilities for an amicable settlement to this difference of opinion. Avantium\u2019s CEO Tom van Aken said they were surprised by BASF\u2019s position as Synvina is said to ahead of the timeline for resolving the technical challenges that led to the postponement announced in January.<\/p>\n<p>Should BASF exit the JV, the IP, people, assets and technology for the production of FDCA and PEF will return to Avantium.\u00a0 The company is said to be determined to pursue the commercialization of FDCA and PEF with or without BASF.<\/p>\n<p>Synvina was established in 2016. Unfortunately, this news has sent Avantium\u2019s stock sliding to EUR3.88 as of 5:35pm today in Euronext stock exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a recent announcement from Avantium, the companies disagree on the timing for the fulfillment of the criteria to invest in the commercial-scale plant for FDCA.\u00a0 After an internal strategic review, BASF has reportedly served a notice to Avantium that if the investment criteria are not fulfilled by 5 December 2018, it is entitled [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[5796,10408],"supplier":[742,2908,13428],"class_list":["post-57759","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-biotechnology","tag-greenchemistry","supplier-avantium-technologies-bv","supplier-basf-corporation-us","supplier-synvina-c-v"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/57759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=57759"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/57759\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=57759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=57759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=57759"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=57759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}