Avantium, which launched a joint venture with BASF last month, has added Flanders' investment firm PMV and federal holding company FPIM to its shareholders.
Netherlands-based chemical technology producer Avantium raised €20m ($22.7m) in financing on Tuesday, which it will put towards building a factory for a plastic material it is producing and marketing in partnerhip with chemical producer BASF.
The capital was provided by PMV, an independent investment company for the region of Flanders, and FPIM, the Belgian Federal Holding and Investment Company. They were joined in the round by existing, unnamed shareholders in Avantium.
Avantium’s corporate backers include plastics producer Alpla, which contributed…
