Avantium, one of Capricorn Cleantech Fund's portfolio companies, raises € 36M from Swire, the Coca-Cola Company, Danone and Alpla

Amsterdam, the Netherlands: 5 June 2014 - Today Avantium announced that it has closed a financing round of € 36 million (US$ 50 million) from a consortium of iconic strategic players. This unique consortium consists of Swire Pacific, The Coca-Cola Company, DANONE, ALPLA, and existing shareholders. With this capital raise the new investors affirm their commitment to advancing PEF, Avantium's next generation packaging material. Proceeds will be used to complete the industrial validation of PEF and finalize the engineering & design of the first commercial scale plant. As part of its strategy to use responsibly sourced plant based materials for PEF production, Avantium will validate the use of 2nd generation feedstock.

Follow on investments were made by existing shareholders Sofinnova Partners, Capricorn Venture Partners, ING Corporate Investments, Aescap Venture, Navitas Capital, Aster Capital and De Hoge Dennen Capital.

More info on the press release or on Avantium's website.

 

Bron: Capricorn Venture Partners