Avantium announces Dutch National Growth Fund funding of the BioBased Circular proposal submitted on behalf of Avanti\um; project includes flagship plant to produce plant-based glycols based on company's Ray Technology

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June 30, 2023 (press release) –

AMSTERDAM, 30 June 2023, 15:15 hrs CEST – The Dutch cabinet today announced that the National Growth Fund (Nationaal Groeifonds) has selected the BioBased Circular (BBC) proposal[i]  for funding. The BBC programme, submitted also on behalf of Avantium, includes a track dedicated to the engineering and construction of a Flagship Plant to produce plant-based glycols based on Avantium’s Ray Technology™. The BioBased Circular programme aims to set up a sustainable sugar-based chemical and materials manufacturing industry in the Netherlands. The programme, which runs until 2032, will link up the agricultural sector with the chemical and plastics industry, creating entirely new sustainable value chains to position the Netherlands as a frontrunner in the production of plant-based and circular plastic materials.

The BBC programme is conditionally awarded €338 million in total[ii]. The Ray Technology™ Flagship Plant had requested a total award of €53 million, which is now conditionally approved. One the conditions is that the Ray Technology™ Flagship Plant will be constructed in the Netherlands. Other conditions that are detailed in the National Growth Fund report will be further evaluated. The grant award will be paid out to the Ray Technology™ Flagship Plant project in milestone payments over the coming years and pending Final Investment Decision.  

[i] The BBC programme was submitted by the Minister of Economic Affairs and Climate Change, also on behalf of the Green Chemistry, New Economy (GCNE) coalition and the Top Consortium for Knowledge and Innovation BioBased Economy (TKI-BBE). The Ministry of Infrastructure & Water Management, the Ministry of Agriculture, Nature and Food Quality and the three top sectors of Agri&Food, Chemistry and Energy support the proposal. Leading parties from the ecosystem, such as Avantium, Brightsite, CBBD, Cosun the ROMs of five provinces, TNO, WUR, UM, UT and TUD have joined. In addition, more than sixty other organisations have expressed their support.


[ii] The first phase of Biobased Circular is conditionally granted by the Growth Fund (€102 million), and a reservation of the grant award of €236 million has been made for the second phase.

 English press release in PDF

Nederlands persbericht in PDF

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