Effe ook het laatste persbericht doorgenomen en dit eruit gepikt om alles weer eens op te frissen.
Hier hebben ze het zelfs over deadlines 2025 en operationeel zijn 2027.
En Cosun en Avantium hebben samen al een 57 miljoen (begin dit jaar) toegezegd gekregen.
Maar er zal dus extra nodig zijn.
Ray TechnologyTM
With its Ray TechnologyTM, Avantium has developed an efficient and sustainable way to produce the plant- based glycols plantMEG (mono-ethylene glycol) and plantMPG (mono-propylene glycol) from plant-based feedstocks, as an alternative to fossil feedstock. MEG is used in large applications like packaging, polyester textiles, and antifreeze, while MPG can be used for airplane de-icing, in unsaturated polyester resins such as those used for the production of windmill blades and as a heat transfer fluid in solar panels Avantium currently produces plantMEG and plantMPG at its demonstration plant in Delfzijl, the Netherlands, using Cosun Beet Company’s locally grown beet sugar as the renewable feedstock. The intention is to take a positive Final Investment Decision on the construction of a Ray Flagship Plant in 2025 and complete this plant by 2027. A positive Final Investment Decision will require several key conditions to be satisfied: (i) finalising the engineering and establishing the supply chain, (ii) securing the financing of the Ray Flagship Plant, and (iii) obtaining sufficient offtake commitments for plantMEG and plantMPG.
(i) Avantium is advancing towards the next phase of engineering: the development of the Process Design Package (PDP) for the Ray Flagship Plant. In the first half of 2023, the team successfully executed several essential trials as part of the pre-engineering phase. These included successful runs in the Ray demonstration plant in Delfzijl, a combustion trial and a glycol distillation trial (executed by Sulzer Chemtech), with technical results in line with expectations.
On the supply chain, Cosun Beet Company has the intention to supply sustainable Dutch beet sugar to the Ray Flagship Plant. Meanwhile we're searching for an optimal site and negotiating.
(ii) An instrumental step towards securing the overall funding of the construction of the Ray Flagship Plant in the Netherlands was the conditional award of a €53 million grant by the Dutch National Growth Fund (Nationaal Groeifonds) in June 2023. This is part of a larger grant award to the BioBased Circular programme2, submitted also on behalf of Avantium, which includes a track dedicated to the engineering and construction of a Ray Flagship Plant to produce plant-based glycols based on Avantium’s Ray TechnologyTM. The BioBased Circular programme aims to set up a sustainable sugar-based chemical and materials industry in the Netherlands and runs until 2032. The grant award will be paid out to the Ray Flagship Plant project in milestone payments over the coming years and pending a positive Final Investment Decision, which we expect to take in 2025. One of the conditions of the National Growth Fund grant award is that the Ray Flagship Plant will be constructed in the Netherlands.
We are currently evaluating the financing strategy for the Ray Flagship Plant in the Netherlands and continue to explore further funding options, including (strategic) equity, debt and additional grants.
(iii) We see strong customer traction for both plantMEG and plantMPG and we continue to pursue active negotiations with potential partners.
Heel veel weer in herhaling wat we afgelopen maanden hier ook al besproken hebben.
Mijn visie samengevat:
- Voor de PEF/FDCA plant in Eemshaven (operationeel in 2024) hoeven ze geen kapitaalinjectie meer.
- Voor de "Ray Technology" plant samen met Cosun (via een proeffabriek) in Delfzijl hebben ze al 56 miljoen gekregen en zullen ze extra geld nodig hebben, zoals ook hierboven kunt lezen, waar men het constant over heeft hier en in de podcasts.
De vraag is hoe en wanneer.
In 2024 moet daar een ei over gelegd zijn en dit kan iets zeggen over wanneer er een handeling (in de vorm van wel of niet een emissie) zal zijn. Ik verwacht dit niet dit jaar maar begin 2024.