Avantium divests bioaromatics patent portfolio to TNO
In the Netherlands, renewable chemical process developer Avantium B.V. has announced that it has sold its bioaromatics patent portfolio to the Netherlands Organization for Applied Scientific Research (TNO). The sale, the value of which has not been disclosed, includes both patents and know-how for technologies that produce bio-derived products for polymers and coatings.
According to Avantium, these technologies lie outside the company’s strategic focus and will now be further developed by TNO. Avantium has an extensive portfolio of renewable technologies focused on plant-based polyesters. The company continuously assesses the best possible options for innovation including its divestiture to a suitable party.
This bioaromatics patent portfolio fits well into TNO’s development strategy. Avantium will continue to support TNO in this area and can provide proprietary single flow testing equipment to accelerate TNO’s R&D efforts, commented Zanna McFerson, Managing Director, Avantium Renewable Chemistries.