Avantium N.V., a leading technology company in renewable chemistry, publishes its Sustainability Plan ‘Chain Reaction 2030’, highlighting the company’s ambitious vision to achieve a fossil-free chemical industry by 2050.
In 2020, Avantium published its Sustainability Manifesto
outlining a pathway for the company totake to tackle the global climate emergency. Chain Reaction 2030 is the evolution of this manifesto, a ten-year action plan the company can be measured against in this decade.
Chain Reaction 2030 commits Avantium to a series of goals and targets where it has the greatest impact on social and environmental issues. This includes accelerating its own technologies and operationsto support the circular economy and driving responsible and sustainable business practice across the industry.
The planalso includes the company’s actions toempower its own employees and to excite the next generation to accelerate the transition to a fossil-free world. By outlining future plans and next steps alongside a series of case studies, Chain Reaction 2030 demonstrates the actions Avantium will take to tackle climate change and transition to a circular, sustainable bio-based economy. The plan not only addresses internal resource management and operational commitments but highlights the beneficial environmental impact that adoption of its technologies will have in the world.
In order to successfully implement Chain Reaction 2030, the company will collaborate with partners and customers who are change makers, share similar values and are guided by the same end goals. Avantium hopes thisplan will galvanise many others into action and together establish a powerful coalition to reach the ambition of a fossil-free chemical industry by 2050. This plan has been developed in consultation with internal experts and a broad group of external stakeholders and industry bodies, including some prominent NGOs.
Avantium will regularly report on its progress in meeting the outlined targets. In his foreword to the plan, Avantium CEO Tom van Aken states: “Chain Reaction 2030 represents a deepening of our commitment to achieving a fossil-free chemical industry. It gives us a sense of urgency and guides our business to ultimately help transform our industry as a solution to the climate emergency. I look forward to working with parties interested in helping us achieve the vision of Chain Reaction, transforming the chemical industry for a world sustained by renewable technologies.”
About AvantiumAvantium 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 a wide range of chemicals and plastics, such as PEF (polyethylene furanoate). Avantium has successfully demonstrated the YXY®Technology at its pilot plant in Geleen, the Netherlands. The second technology is the Dawn Technology™ 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 Technology™ pilot biorefinery in Delfzijl, the Netherlands. The third technology is called Ray Technology™ and catalytically converts industrial sugars to plant-based MEG (mono-ethylene glycol): plantMEG™. Avantium is scaling up its Ray Technology™ and the demonstration plant in Delfzijl, the Netherlands opened in November 2019.
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 likeminded 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
Source: Avantium, press release, 2021-02-03.