22 February 2012 21:05 [Source: ICIS news]
NEW YORK (ICIS)--Dutch industrial biotechnology firm Avantium expects to start commercialisation of its bio-based polyester, polyethylene furanoate (PEF), by 2015 with a new 30,000-50,000 tonnes/year facility, an executive said on Wednesday.
The location of the planned facility has not been disclosed.
“We are looking to raise funding of about EUR 150m for our first commercial plant,” said Tom Van Aken, Avantium’s chief executive .
Van Aken spoke during a presentation at the Jefferies Global Clean Technology conference in New York.
“We are hoping to start construction of the facility by 2013,” he added.
Avantium is developing PEF to replace polyethylene terephthalate (PET). The company has partnered with US beverage firm Coca-Cola last year to further develop and use PEF bottles for the company’s plant-bottle packaging.
Van Aken said the plan is to introduce commercial PEF bottles for Coca-Cola by 2015.
Avantium is also collaborating with other companies for its PEF and expects to announce another partnership in March, Van Aken said.
The company says it plans to scale-up capacity in 2017-2018 with a 300,000-500,000 tonnes/year facility to be able to compete with petroleum-based material worldwide.
The Jefferies Clean Technology conference ends on Thursday.
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