The parties aim to form a European consortium, with plans to expand by including additional strategic partners over time. The consortium intends to build and operate the first industrial-scale facility in Europe based on Avantium’s proprietary YXY® Technology, converting plant-based feedstock into FDCA (furandicarboxylic acid) and FDCA-based polymers, such as releaf®. The project takes advantage of Tereos’ plant-based feedstock, Avantium’s proprietary YXY® Technology, while demand will be driven by partners including LVMH Gaïa.
This strategic initiative builds on the long-standing collaboration between Avantium, Tereos, and LVMH Gaïa within the EU-supported PEFerence consortium, which accelerates the shift from fossil-based to plant-based polyesters. It aligns with Tereos’ ambition to develop green chemistry future value chains and Avantium’s goal to license its YXY® Technology globally. It also supports the objectives of LVMH’s LIFE 360 environmental program, which includes the ambition to progressively eliminate fossil-based plastics from packaging. This initiative is a concrete step in that direction.
