Avantium Completes Spin-off of Parana Technology into Dedicated Company
The Dutch renewable chemistry company has transferred a portion of its technology portfolio to a separate entity, Parana Materials B.V., while retaining a minority stake in the capital. The operation is accompanied by the departure of its chief technology officer, the inventor of the technology in question.
A Portfolio of Plant-Based Polyesters Removed from Avantium's Perimeter
Avantium announced on October 1, 2026, the completion of the spin-off of its Parana technology into a new independent company, Parana Materials B.V. The latter is dedicated to the development and commercialization of high-performance plant-based polyesters, such as PISA, PISOX, and PEIT/PEIF. The Parana portfolio is distinct from FDCA and PEF technology (marketed under the Releaf brand), which remains fully within Avantium. According to the company, the operation is part of its strategy to concentrate resources and investments on its core FDCA and PEF business. As part of the transaction, Avantium transferred to Parana Materials the assets associated with this technology, including intellectual property, know-how, projects, and a dedicated team.
Departure of Chief Technology Officer and Minority Stake Retained
Among the founders of Parana Materials is Gert-Jan Gruter, current chief technology officer of Avantium and inventor of Parana technology, who will join the new company in the same capacity following the completion of the transaction. Parana Materials will be led by Willem-Jan Meijer. Avantium will retain a minority stake in Parana Materials, enabling it to participate in future value creation. The new company has been established on the Brightlands Chemelot Campus in Geleen, Netherlands. Parana Materials will assume responsibility for operating Avantium's polymerization pilot unit under a lease agreement. Avantium will retain ownership of the unit and indicates that the arrangement allows it to reduce its overall cost base with minimal operational disruption.
Financial Support for the New Entity
To support its next phase of development and commercialization, Parana Materials has obtained support from the LIOF Participatiefonds, Limburg's regional development agency, as well as from its founders. The company has also benefited from support under the Just Transition Fund (JTF) and Demonstration Energy and Climate Innovation (DEI+) programs.
