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Avantium Full Year Results 2019

Avantium announces 2019 results.

Key business progress during 2019

Avantium Renewable Polymers made good progress with the implementation of its revised commercialisation strategy, including preparations for the planned construction of a 5 kilotonnes FDCA flagship plant, currently planned to start-up in 2023:

  • Avantium chose Chemie Park Delfzijl in the Netherlands as the location for its flagship plant
  • The first important financing milestones to support the construction of the flagship plant were reached with a €25 million PEFerence grant and €30 million financing package from a regional consortium

Avantium Renewable Chemistries continued to show promise:

  • Avantium secured more than €9 million in European Union and regional grants to support further developments of its Ray Technology™ and Dawn Technology™
  • In November 2019, Avantium opened a Ray Technology demonstration plant for plant-based mono-ethylene glycol (MEG) with a production capacity of 10 tonnes MEG per annum in Chemie Park Delfzijl

Avantium Catalysis recorded strong revenue growth of 15%

Key financial developments during 2019

Consolidated revenues from operations increased by 22% to €13.8 million (FY 2018: €11.3 million), mainly driven by increased systems sales by Avantium Catalysis

Reported net loss for 2019 amounted to €23.5 million (FY 2018: €68.4 million)

Cash at 31 December 2019 was €45.4 million (31 December 2018: €83.3 million). The 2019 cash outflow resulted primarily from investments in our technology programs and from a one-off payment of €17.4 million to regain full ownership of Avantium Renewable Polymers (formerly known as Synvina)

Tom van Aken, CEO of Avantium said: “2019 was a pivotal year for Avantium, in which we continued to focus on our commitment to becoming a leader in renewable chemistry. By regaining full ownership of Avantium Renewable Polymers, we now have control over the scale-up and market-launch strategy for our YXY Technology® to produce FDCA and PEF. We continue to make encouraging progress on the execution of our business strategies.”

Avantium also publishes the 2019 Annual Report. You can download it here:

Avantium Annual Report-2019

 

REFS

Avantium Full Year Results 2019 Press Release Publication Full Year Results 2019

 

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