Avantium enters CO2 utilisation limelight with Liquid Light acquisition
Avantium, has announced that it has acquired the assets of Liquid Light Inc., a US developer of electrochemical processes. Liquid Light has developed proprietary process technology to make major chemicals from carbon dioxide (CO2).
Avantium, a Dutch renewable chemical technology company has announced that it has acquired the assets of Liquid Light Inc. (Liquid Light), a developer of electrochemical processes. Liquid Light has developed proprietary process technology to make major chemicals from carbon dioxide (CO2).
Liquid Light, which was spun out from Princeton University in 2008, has invested more than US$35 million on low-energy electrochemistry technologies to convert CO2 to major chemicals. It has filed over 100 national patent applications of which more than twenty have been granted. Its patent portfolio includes filings on producing multiple chemical building blocks used in large existing markets, including oxalic acid, glycolic acid, ethylene glycol, propylene, isopropanol, methyl-methacrylate and acetic acid for the production of polymers, coatings and cosmetics.
“Unrivalled” technology platform
– Electro-catalysis is an emerging technology in the chemical industry that is based on electrical energy and catalytic reactions to drive chemical reactions. The technology enables the use of renewable energy for example from wind farms or solar panels for the chemical industry resulting in a significantly improved carbon footprint. The extensive patent portfolio of Liquid Light brings Avantium in the top of the world’s Intellectual Property position in electrochemistry, said Gert-Jan Gruter, Chief Technology Officer of Avantium in a statement.
The acquisition combines the technologies of both Liquid Light and Avantium to develop a world leading electro-catalysis platform and to commercialise new process technologies using CO2 as feedstock to produce sustainable chemicals and materials. The technology and patent portfolio of Liquid Light will be integrated in Avantium’s Renewable Chemistry business unit and its existing R&D program in electrochemistry. The combination will be the basis of an “unrivalled” technology platform to develop novel production technologies for converting CO2 to chemicals and materials.
– The acquisition of Liquid Light is an important step in our strategy to create and commercialise breakthrough technologies in renewable chemistry. It will extend our capabilities beyond catalytic conversion of biomass. This acquisition will enable the development of a powerful technology platform on the basis of CO2 feedstock, meaning it turns waste into valuable products such as chemicals and plastics, said Tom van Aken, Chief Executive Officer of Avantium.
The integration of the Liquid Light assets into Avantium is complete and effective immediately. Financial details of the transaction were not disclosed.