Avantium spins out Parana Technology into Parana Materials

Transaction and purpose

Avantium has completed the spin‑out of its Parana Technology into Parana Materials B.V., creating an independent company to develop and commercialize a portfolio of plant‑based, high‑performance polyesters while Avantium focuses on its FDCA and PEF business.

Technology

Parana Technology uses simpler, cost‑effective synthesis routes with commercially available monomers — isosorbide, succinic and oxalic acids, and bio‑MEG — and is designed for production in existing industrial assets. The portfolio covers oxalic‑acid based PISOX (noted for marine degradability and potential for a carbon‑negative footprint) and PISA, PEIT and PEIF grades targeting packaging, consumer goods and specialty applications.

Organization and leadership

Avantium transferred the associated IP, know‑how, projects and a dedicated team to Parana Materials. Gert‑Jan Gruter, inventor of the Parana Technology, will join as CTO and Willem‑Jan Meijer will lead the company; Avantium will retain a minority stake to stay exposed to future value creation.

Facilities and funding

Parana Materials is established at Brightlands Chemelot Campus in Geleen and will assume operation of Avantium’s polymerization pilot plant under a lease for development, scale‑up and third‑party tolling while Avantium retains ownership and access. Early financial and programmatic support includes LIOF Participatiefonds and backing from the Just Transition Fund and DEI+ programmes, alongside founder investments.