The company has reportedly now raised about $220m, after closing a round backed by Swire Pacific, Coca-Cola, Danone and Alpla.
Netherlands-based green chemicals producer Avantium has secured €36m ($49m) from a consortium including diversified conglomerate Swire Pacific, beverage maker Coca-Cola, food and beverage manufacturer Danone and plastics producer Alpla.
Avantium will use the funds to further develop PEF, a next-generation biological plastic that will be used as packaging material. Capital will be directed towards finalising the design and engineering of the first commercial plant to manufacture PEF.
The round also included existing shareholders. Although Avantium did not name any specific…
