Avantium - Focus on FDCA/PEF, equity raise of EUR 50m
Avantium will fully focus on the commercialization of its FDCA/PEF technology for which it has lined up a pipeline of potential licensing partners. The investments in the Ray technology (Bio Meg) will be put on hold. In order to further fund the FDCA development, Avantium will ask the shareholders to approve a capital raise of EUR 50m.Awaiting the CMD and expected changes in our estimates we put our rating and TP (EUR 5.50) under reviewAvantium NV Formerly known as Avantium Holding BV. Avantium NV, formerly Avantium Holding BV, is a company based in the Netherlands engaged in environmental research and development (R&D). The Company develops chemical technologies and production processes to convert bio-based feedstock into sustainable products. The Company's business comprises three segments: Catalysis, Renewable Chemistries, and YXY. Catalysis segment provides catalysis R&D services and systems to chemical, refinery and energy companies, utilizing its Flowrence Technology Platform to devise the appropriate catalyst testing solutions. Renewable Chemistries is the development division with a portfolio of projects focusing on the conversion of biomass to chemical building blocks and plastic materials. The YXY segment comprises the activities of Syviana, the joint venture with BASF SE. The YXY technology is used to convert plant-based sugars into chemical building blocks for plastics, such as polymer polyethylenefuranoate (PEF), and other applications.
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