Energy Transition & Sustainability, ECM

Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner to Avantium, a leading renewable and circular plastics company, on a EUR 11.2m ABB

Avantium is a Dutch company pioneering renewable & circular polymer materials.

Avantium’s lead product is FDCA, the key building block for the sustainable plastic PEF. PEF is a 100% plant-based and recyclable plastic with superior performance, providing a sustainable alternative to fossil-based plastics.

Avantium is reaching a key inflection point with the recent inauguration of the world’s first commercial FDCA Flagship plant (5kta), enabling the commercialisation of FDCA and PEF at large scale in view of substituting fossil-based plastics. The company has demonstrated robust global demand for PEF, having signed 16 offtakes agreements with leading international brands in the bottling, packaging, specialty films and textile industries.

The capital raise comes on top of a EUR 35.1m debt financing package secured by the company, increasing total funding to EUR 46m. The net proceeds are aimed to finance working capital requirements and start-up costs in 2025 related to the FDCA Flagship Plant.

Acting as Joint Global Coordinator and Joint Bookrunner, Bryan, Garnier & Co helped deliver a EUR 11.2m ABB for Avantium on Euronext Amsterdam.

The Accelerated Bookbuilding price was set at EUR 1.75 per share, representing a 14.4% discount to last close. 6,380,223 shares were issued, representing approximately 8% of the company’s share capital. The transaction attracted strong interest from both existing shareholders and new institutional investors, leading to a comfortably oversubscribed book.

The net proceeds of the Offering, together with Avantium’s current cash resources and the proceeds from the up to EUR 35.1 million financing package will fund Avantium’s operations in its ongoing industrial and commercial ramp-up journey.

Avantium is a pioneering commercial-stage company focused on renewable & circular polymer materials.

Avantium develops and commercialises innovative technologies for the production of materials based on sustainable carbon feedstocks, i.e. carbon from biomass or carbon from the air (CO2). The most advanced technology is the YXY® Technology that catalytically converts plant-based sugars into FDCA (furandicarboxylic acid), the key building block for the sustainable plastic PEF (polyethylene furanoate).

Avantium has inaugurated the world’s first commercial plant for FDCA, with large-scale production of PEF expected from 2025.

Avantium works in partnership with like-minded companies around the globe to create revolutionary renewable chemistry solutions from invention to commercial scale.

Avantium’s shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX).

Avantium is incorporated in the Euronext Amsterdam SmallCap Index (AScX). Its offices and headquarters are in Amsterdam, the Netherlands.