Avantium publishes H1 2026 financials and completes Worley close-out for FDCA Flagship Plant

Interim financials and going concern

For the six months ended 30 June 2026 Avantium reported revenues of €4.7 million, EBITDA of -€18.8 million and a cash position, including restricted cash, of €23.9 million. The interim statements were prepared on a going concern basis and include a material uncertainty dependent on several assumptions.

The going concern assessment depends on successful start-up and initiation of commercial operations at the FDCA Flagship Plant in H2 2026; securing additional funding via the financing package; compliance with existing debt facilities; achievement of FDCA product sales and license milestone payments in H2 2026 and during 2027; satisfactory conclusion of discussions with Worley; and execution of strategic options and cost management.

FDCA Flagship Plant progress

Avantium produced the first batch of FDCA at the Delfzijl Flagship Plant after commissioning major process units. The company is producing additional FDCA, completing qualification activities and preparing for first commercial deliveries expected toward the end of 2026.

Avantium has secured 23 offtake agreements for material from the Flagship Plant and 17 capacity reservation agreements representing more than 150 kilotonnes of potential annual production capacity from future licensed facilities.

Financing package

Avantium is advancing a comprehensive financing package comprising an intended equity raise of at least €55 million and a proposed €20 million Nij Begun facility to support start-up, ramp-up and ongoing operations. Discussions with shareholders, prospective investors, financial institutions and NOM have progressed; the company currently anticipates launching the transaction in Q4 2026, subject to shareholder approval and customary conditions.

Worley close-out and strategic focus

On 29 September 2026 Avantium and Worley entered a close-out agreement resolving principal outstanding commercial and contractual matters, including outstanding invoices and claims, remediation responsibilities, titanium welding issues and the contractual close-out of the EPC relationship, and setting a framework for future cooperation.

Avantium is sharpening strategic focus through portfolio realignment and cost discipline: divestments and spin-outs of non-core assets, discontinuation of further investment in Dawn Technology, evaluation of strategic alternatives for Avantium R&D Solutions, and workforce and cost-reduction measures (around 15% headcount reduction over the past 12 months) to extend the funding runway.