Avantium Publishes Half-Year 2026 Financial Statements and Completes Worley Contractual Close-out for FDCA Flagship Plant
AMSTERDAM, 30 September 2026, 07:00 hrs CEST – Avantium N.V. (Euronext Amsterdam and Brussels: AVTX), a leading company in renewable and circular polymer materials, today publishes its IAS34 Interim Financial Statements for the six months ended 30 June 2026 and announces the successful contractual close-out of the construction phase of its FDCA Flagship Plant with its EPC partner Worley.
The unaudited IAS 34 Interim Financial Statements for the six months ended 30 June 2026 have been published today and are available on the Company's website (20260930-IAS-34-Interim-Statements-HY-2026.pdf). The Interim Financial Statements are consistent with the financial update published on 19 August 2026 and contain no material changes to the financial information previously disclosed. The Interim Financial Statements have been prepared on a going concern basis.
For the six-month period ended 30 June 2026, Avantium reported revenues of €4.7 million, EBITDA of -€18.8 million and a cash position, including restricted cash, of €23.9 million, underscoring the importance of the Company's financing and liquidity initiatives.
The Company's going concern assessment, as set out in the Interim Financial Statements for the six months ended 30 June 2026, is principally dependent on a number of important assumptions, including (1) the successful completion of the start-up phase and initiation of commercial operations at the FDCA Flagship Plant in the second half of 2026; (2) securing additional funding through the Company’s financing package; (3) compliance with the conditions and undertakings under the existing Debt Financing Facilities; (4) achievement of FDCA Flagship Plant product sales and milestone payments from license agreements in the second half of 2026 and throughout 2027; (5) the satisfactory conclusion of the ongoing discussions with Worley concerning the close-out of the construction phase of the FDCA Flagship Plant; and (6) the successful execution of strategic options for non-core technology assets, the performance and strategic future of Avantium R&D Solutions and related cost management. Accordingly, the Interim Financial Statements include a material uncertainty related to going concern.
Since 30 June 2026, Avantium has made progress in addressing several of these assumptions. The Company has successfully produced the first batch of FDCA at the FDCA Flagship Plant, completed the contractual close-out with Worley, advanced preparations for its financing package, and continued the execution of its portfolio realignment and cost-management measures. Preparations for commercial deliveries of product, currently anticipated to commence towards the end of 2026, are ongoing.
FDCA Flagship Plant progresses toward commercial operations
Earlier this week, Avantium announced the successful production of FDCA at its FDCA Flagship Plant in Delfzijl. Following the commissioning of all major process units and the successful production of the first FDCA batch, Avantium is focused on producing additional FDCA, completing qualification activities, and preparations for the first commercial deliveries under existing offtake agreements, expected toward the end of 2026.
The successful production of FDCA in the Flagship Plant represents an important step in the commercial validation of Avantium's proprietary YXY® Technology and supports the Company's licensing strategy for future FDCA and PEF production facilities. Avantium has currently secured 23 offtake agreements for material to be produced in the FDCA Flagship Plant, and 17 capacity reservation agreements representing more than 150 kilotonnes of potential annual production capacity from future licensed facilities.
Financing package continues to progress
Avantium is making good progress with its comprehensive financing package, consisting of an intended equity raise of at least €55 million and the proposed €20 million Nij Begun financing facility, to support the start-up and ramp-up of the FDCA Flagship Plant, ongoing operations and the execution of its commercialization and licensing strategy. Discussions with shareholders, prospective investors, financial institutions, and other stakeholders have advanced further, including on the structure, implementation and documentation of the financing package. Discussions with the NOM (the Investment and Development Agency for the Northern Netherlands), acting on behalf of the Ministry of Economic Affairs and Climate and the Province of Groningen, regarding the proposed Nij Begun facility have also progressed further.
Subject to shareholder approval of the resolutions proposed at today's Extraordinary General Meeting and other customary conditions and approvals, the Company remains on track with the preparations for the planned equity raise. The exact timing of the launch of the transaction depends, amongst other things, on the decision-making procedures at some of Avantium’s key stakeholders in relation to their contribution, however, the Company currently anticipates launching the transaction in Q4 2026.
Worley close-out completed, reducing project and contractual uncertainties
On 29 September 2026, Avantium and Worley entered into a close-out agreement aimed at achieving a comprehensive resolution of the principal outstanding matters between the parties in relation to the FDCA Flagship Plant. The agreement addresses the principal outstanding commercial and contractual matters between the companies, including outstanding invoices and claims, responsibilities associated with remediation activities, titanium welding-related matters, and the contractual close-out of the EPC relationship. The agreement also addresses a framework for future cooperation between the parties.
Strategic focus sharpened through portfolio realignment and cost discipline
The Company continues to sharpen its strategic focus on the commercialization, scale-up and licensing of FDCA and PEF through active portfolio optimization and disciplined cost management. Following the divestment of Ray Technology® to UPM and the subsequent spin-out of Volta Technology into Carbeau, the Company continues to execute its strategy for non-core technology assets, including the planned spin-out of Parana Technology into Parana Materials B.V. Combined with the earlier decision to discontinue further investment in Dawn Technology®, these actions are expected to reduce future funding requirements and non-core cost exposure, and reinforce management focus on its core FDCA and PEF activities.
The Company continues to evaluate strategic alternatives for Avantium R&D Solutions, including potential partnerships, restructuring initiatives and other value-enhancing options. In parallel, management is implementing cost reduction measures to improve the business' cost profile and reduce future funding requirements.
In parallel, Avantium is implementing restructuring and cost-saving measures designed to strengthen its financial position and extend its working capital runway. Over the past twelve months, the Company has reduced its workforce by approximately 15% through portfolio optimization initiatives, organizational restructuring and spin-out activities. Avantium continues to review discretionary expenditure, external spending and operating costs across the organization, while evaluating additional restructuring and cost-reduction measures to preserve liquidity, reduce its cost base and extend the Company's funding runway.
About Avantium
Avantium is a pioneering commercial-stage company focused on renewable & circular polymer materials. Avantium develops and commercializes innovative technologies for the production of materials based on sustainable carbon feedstocks. The most advanced technology is the YXY® Technology that catalytically converts plant-based sugars into FDCA (furandicarboxylic acid), the key building block for the sustainable plastic PEF (polyethylene furanoate). PEF is known under the brand name releaf®, an EU registered trademark of Avantium. Avantium has successfully demonstrated the YXY® Technology at its pilot plant in Geleen, the Netherlands, and is in the process of starting the world's first commercial plant for FDCA in Delfzijl, the Netherlands. Avantium works in partnership with like-minded companies around the globe to develop revolutionary renewable chemistry solutions from invention to commercial scale.
Avantium’s shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX). Avantium is incorporated in the Euronext Amsterdam SmallCap Index (AScX). Its offices and headquarters are in Amsterdam, the Netherlands.
For more information:
Caroline van Reedt Dortland, Director Communications
+31-20-5860110 / +31-613400179
mediarelations@avantium.com
Aarne Luten, Director Investor Relations
+31-625687714
ir@avantium.com
