Avantium Completes Spin-out of Parana Technology into Parana Materials
Caroline Randall
Marketing Manager
Avantium N.V., a leader in renewable and circular polymer materials, today announced the completion of the spin-out of its Parana Technology into Parana Materials B.V. Parana Materials is a new, independent company focused on the development and commercialization of plant-based, high-performance polyesters such as PISA, PISOX and PEIT/PEIF. The Parana Technology portfolio is distinct from Avantium’s FDCA and PEF (branded as releaf®) technology, which remains fully within Avantium. The transaction is part of Avantium’s strategy to focus resources and investments on its core FDCA and PEF business while enabling other promising technologies in its portfolio to pursue independent growth and commercialization pathways.
Parana Technology enables the production, application and recycling of renewable, high-performance polyesters through simpler and more cost-effective synthesis routes using commercially available monomers such as isosorbide, succinic- and oxalic acid, and bio-MEG and production in existing industrial assets. The technology portfolio includes oxalic acid-based PISOX polyesters, which offer attractive sustainability characteristics, including marine degradability and the potential for a carbon-negative footprint, as well as PISA, PEIT and PEIF polyesters, which combine high mechanical and thermal performance with renewable content for packaging, consumer goods and specialty applications. The technology has attracted interest from leading global consumer brands and materials innovators.
