Avantium N.V., a prominent innovator in renewable and circular polymer materials, has unveiled its comprehensive 2024 full-year results. Chief Executive Officer Tom van Aken expressed his pride in the company's significant achievements, particularly the completion of Avantium's first-ever commercial-scale FDCA plant in Delfzijl, Netherlands. This landmark achievement was celebrated with a high-profile opening ceremony graced by Her Majesty Queen Máxima of the Netherlands and attended by 300 distinguished international guests.

The completion of the FDCA Flagship Plant represents a major step forward in Avantium's mission to introduce sustainable polymer materials to the market. Since the ceremony, the company has embarked on the plant's start-up process, adopting a carefully phased and safety-first approach. Avantium anticipates producing the initial FDCA batches in the coming months, marking the beginning of commercial production. The company remains confident that its dedicated team and extensive resources will ensure the successful start-up of the FDCA Flagship Plant, thereby enabling the commercial rollout of FDCA and PEF (marketed under the brand name releaf®) in 2025.

In preparation for this commercial milestone, Avantium has intensified efforts to develop and implement effective commercial and licensing strategies. These preparations are essential to ensure the seamless introduction of FDCA and PEF to the market. Additionally, the company has been actively expanding its intellectual property (IP) portfolio to strengthen its position in the renewable polymer sector. Among its key achievements in 2024 was securing approval from the U.S. Food and Drug Administration (FDA) for PEF's use in food contact applications, opening up new market opportunities for the product.

Further enhancing its sustainability initiatives, Avantium has successfully developed a patented technology that converts polycotton textile waste into glucose and polyester. This innovation is a major advancement in fiber-to-fiber recycling, reinforcing the company's commitment to circularity and sustainable practices.

Despite these successes, the construction of the FDCA Flagship Plant encountered unexpected cost increases and delays, largely due to the need for additional materials and extra labor. To mitigate these financial pressures and maintain ongoing operational activities, Avantium secured an additional €116 million in funding from various sources in 2024. This financial support underscores the continued trust and confidence of the company's shareholders, lenders, and strategic partners.

Looking forward to 2025, Avantium has outlined clear priorities, with the safe and successful start-up of the FDCA Flagship Plant taking center stage. The company will also continue advancing its FDCA/PEF-related commercial activities while maintaining a focus on financial stability. Through disciplined cost management, exploring further funding opportunities, and pursuing strategic initiatives outside its Renewable Polymer business, Avantium aims to sustain growth and expand its presence in the market.