Brief: BioBased Circular Proposal With Avantium Selected By National Growth Fund For Funding To Make Plant-Based Materials

Avantium NV

30/06/2023 14:21

June 30 (Reuters) - Avantium NV  AVTX.AS :
    * BIOBASED CIRCULAR PROPOSAL WITH AVANTIUM SELECTED BY
NATIONAL
GROWTH FUND FOR FUNDING TO MAKE PLANT-BASED MATERIALS
    * BBC PROGRAMME IS CONDITIONALLY AWARDED €338 MILLION IN
TOTAL.
THE RAY TECHNOLOGY FLAGSHIP PLANT HAD REQUESTED A TOTAL AWARD OF
€53 MILLION, WHICH IS NOW CONDITIONALLY APPROVED
    * DUTCH CABINET TODAY ANNOUNCED THAT THE NATIONAL GROWTH
FUND
(NATIONAAL GROEIFONDS) HAS SELECTED THE BIOBASED CIRCULAR (BBC)
PROPOSAL FOR FUNDING
    * FIRST PHASE OF BIOBASED CIRCULAR IS CONDITIONALLY GRANTED
BY THE
GROWTH FUND (€102 MILLION), AND A RESERVATION OF THE GRANT AWARD
OF €236 MILLION HAS BEEN MADE FOR THE SECOND PHASE
    * RAY TECHNOLOGY FLAGSHIP PLANT HAD REQUESTED A TOTAL AWARD
OF EUR
53 MILLION, WHICH IS NOW CONDITIONALLY APPROVED
    * ONE CONDITIONS IS THAT RAY TECHNOLOGY FLAGSHIP PLANT WILL
BE
CONSTRUCTED IN NETHERLANDS
    * GRANT AWARD WILL BE PAID OUT TO RAY TECHNOLOGY FLAGSHIP
PLANT
PROJECT IN MILESTONE PAYMENTS OVER COMING YEARS AND PENDING
FINAL INVESTMENT DECISION
    * INTENTION IS TO CONSTRUCT A FLAGSHIP PLANT FOR THE
PRODUCTION OF
PLANT-BASED GLYCOLS AND OPERATE THIS PLANT BY 2027

Source text for Eikon:  ID:nNDL3NV0lw 
Further company coverage:  AVTX.AS 

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