Avantium has secured a further €36 million in funding from a unique consortium of companies committed to seeing PEF bioplastic become a commercial reality.
The backers include Coca Cola, Danone, ALPLA and Swire Pacific, in addition to existing shareholders and the financing will allow the industrial validation of PEF and the engineering and design of a first commercial scale plant to be finalised. As part of its strategy to use responsibly sourced plant based materials for PEF production, Avantium also aims to validate the use of second generation feedstock.
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