AMSTERDAM, 21 August 2024, 07:00 hrs CEST - Avantium N.V. (Euronext Amsterdam and Brussels: AVTX), a leading company in renewable and circular polymer materials, today reports its 2024 half year results.

Key Highlights:

Construction of FDCA Flagship Plant nearing completion, and commissioning activities underway; official opening ceremony scheduled for 22 October 2024
Start-up of the FDCA Flagship Plant planned for Q4 2024
Total capital expenditure for the FDCA Flagship Plant estimated to be €175 million
In August 2024, final tranche of €15 million drawn down under the €105 million Debt Financing Facilities for Avantium Renewable Polymers
Avantium R&D Solutions partners with TNO for a key green hydrogen production technology
Committed orders for Avantium R&D Solutions up by 88% YoY and revenues up by 15% YoY
Key Financial Developments in the First Half of 2024:

In Euro x 1,000
30 June 2024

Outlook
For Avantium Renewable Polymers, commissioning activities at the FDCA Flagship Plant will continue in the second half of 2024, with the start-up planned for the fourth quarter. During the phased start-up process, Avantium will initially produce FDCA in campaigns before transitioning to continuous operations. Tolling partner Selenis will polymerise the FDCA into PEF. Following performance testing of the produced PEF and related regulatory approvals, sales under the offtake agreements will commence.

Avantium currently estimates total capital expenditure for the FDCA Flagship Plant to be €175 million, which is a €26 million (17%) increase over the previously communicated forecast. This increase is primarily due to additional materials required in connection with Electrical and Instrumentation of the FDCA Flagship Plant, as well as extra labour needed to complete the installation.

Avantium is in active discussions with the providers of its existing €105 million Debt Financing Facilities including on the extension of these facilities beyond the current maturation date of 31 March 2025. The Company continues to explore various funding options to ensure that the Company has sufficient working capital funding throughout the start-up of the FDCA Flagship Plant, including equity, debt and subsidy instruments.

Avantium is actively pursuing discussions with potential partners to explore FDCA/PEF licensing opportunities, in addition to that already signed with Origin Materials. These discussions aim to further develop the pipeline of potential partners capable of building industrial-scale manufacturing facilities for FDCA and PEF in different regions.

sse & read more on https://newsroom.avantium.com/avantium-continues-to-progress-towards-the-start-up-of-its-fdca-flagship-plant-in-2024/


opmerking XEA.nl BASF en Corbion hadden ook het FDCA project en hebben dat na enige tijd afgeblazen, te duur en Corbion schreef ca, EUR 8 miljoen af.