AMSTERDAM
,
March 1, 2022
(press release)
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Avantium N.V., a leading technology company in renewable chemistry, announces that world luxury goods leader LVMH Group (Moët Hennessy Louis Vuitton) and Avantium have agreed to further explore the potential of Avantium’s 100% plant-based, recyclable polymer PEF (polyethylene furanoate), as a sustainable packaging solution for LVMH beauty brands. To this end, LVMH Beauty will be the first luxury cosmetic company to join the PEFerence consortium, further enabling the commercial introduction of PEF to the Cosmetics market. The PEFerence consortium, coordinated by Avantium, aims to replace a significant share of fossil- based polyesters with the novel, sustainable polymer PEF. PEF is a plant-based, highly recyclable plastic, with superior performance properties compared to today’s widely used petroleum-based packaging materials. Joining the PEFerence consortium supports the ambitions of LVMH Group’s social and environmental strategy “LIFE 360” (LVMH Initiative for the Environment), and the company’s target of zero plastic from virgin fossil feedstock. “LVMH Beauty is always looking for sustainable materials with superior performance for our luxury products as part of our sustainability strategy,” says Claude Martinez Executive President and Managing Director, Beauty Division of LVMH Group. “The environmental and performance features of PEF are unique and very promising to meet our sustainable packaging goals, which is why LVMH Beauty decided to join the PEFerence consortium. Together, with the other PEFerence consortium partners, we aim to shape this next-generation, fully circular and sustainable packaging material”. Avantium CEO Tom van Aken comments: “We are pleased with the decision of LVMH to join the PEFerence consortium, demonstrating the importance of our mutual work to develop packaging solutions for a circular and sustainable future. We look forward continuing and expanding our collaboration with LVMH Beauty for many years to come”. About the PEFerence consortium The PEFerence consortium is a consortium of reputable industrial companies and brand owners: LEGO System AS, Henkel AG & Co. KGaA,, Spinverse Innovation Management Oy, Tereos Participations SAS, ALPLA Werke Alwin Lehner GmbH & Co. KG, nova-Institut für politische und ökologische Innovation GmbH, Nestec SA, Carlsberg Group, OMV Machinery Srl, Worley, Kebony AS and Avantium. This project has received funding from the Bio-based Industries Joint Undertaking (JU) under the European Union’s Horizon 2020 research and innovation programme under grant agreement No 744409. The JU receives support from the European Union’s Horizon 2020 research and innovation programme and the Bio-based Industries Consortium. About Avantium Avantium is a leading technology development company and a forerunner in renewable chemistry. Avantium develops novel technologies based on renewable carbon sources as an alternative to fossil- based chemicals and plastics. The company currently has three technologies at pilot and demonstration phase. The most advanced technology is the YXY® plant-to-plastics–technology that catalytically converts plant-based sugars into FDCA (furandicarboxylic acid), the key building block for the sustainable plastic PEF (polyethylene furanoate). Avantium has successfully demonstrated the YXY® Technology at its pilot plant in Geleen, the Netherlands, and will start construction of the world's first commercial plant for large-scale production of PEF in 2022. The second technology is Ray TechnologyTM and catalytically converts industrial sugars to plant-based MEG (mono-ethylene glycol): plantMEGTM. Avantium is scaling up its Ray TechnologyTM and the demonstration plant in Delfzijl, the Netherlands opened in November 2019. The third technology is called the Dawn TechnologyTM that converts non-food biomass into industrial sugars and lignin in order to transition the chemicals and materials industries to non-fossil resources. In 2018, Avantium opened the Dawn TechnologyTM pilot biorefinery in Delfzijl, the Netherlands. Next to developing and commercialising renewable chemistry technologies, the company also provides advanced catalysis R&D services and systems to customers in the refinery and chemical industries. 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 included in the Euronext Amsterdam SmallCap Index (AScX). Its offices and headquarters are in Amsterdam, the Netherlands. About LVMH Beauty LVMH Beauty is the Perfumes & Cosmetics division of LVMH group, a major player in the perfumes, make-up and skincare markets, which groups together 15 Houses, historic as well as young brands with strong potential: Parfums Christian Dior, Givenchy Parfums, Guerlain, Fresh, Acqua Di Parma, Benefit Cosmetics, Fresh, Kenzo Parfums, Make Up For Ever, Officine Universelle Buly, Fenty beauty by Rihanna, Marc Jacobs beauty, Maison Francis Kurkdjian, Cha Ling, KVD Vegan beauty, Perfumes Loewe. All are driven by the same values: a quest for excellence, creativity, innovation and perfect mastery of their image.
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