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BASF has decided to exit the Synvina joint venture with Avantium, effective January 15, 2019, due to disagreements over investment criteria. Avantium will acquire BASF's equity interest and continue the JV as a wholly owned unit.
BASF and Avantium's joint venture Synvina plans to build a commercial-scale plant in Antwerp, Belgium, to produce furandicarboxylic acid (FDCA), a building block for the polymer PEF. The plant is expected to be operational in the 2023-2024 timeframe.
The European Joint Undertaking on Bio-based Industries granted €25 million to the PEFerence consortium, led by Synvina, to establish a supply chain for FDCA and PEF. The project includes the planned construction of a 50,000-ton reference plant in Antwerp, Belgium.
| Site | Largest | Latest |
|---|---|---|
| Antwerp, Belgium | $28.0M | 2018-01-29 |