Avantium Welcomes Inclusion of Biobased Plastics Targets in New EU Packaging and Packaging Waste Regulation
AMSTERDAM, 19 December 2024 – Avantium N.V., a leading company in renewable and circular polymer materials, welcomes the adoption of the European Union’s ambitious Packaging and Packaging Waste Regulation (PPWR), an EU legislative initiative aimed at reforming current packaging and waste management rules. Its main goals are to reduce the environmental impact of packaging, promote circularity, and harmonize packaging regulations across the EU. The PPWR positions biobased plastics, such as Avantium’s PEF (branded as releaf®) as a crucial component in achieving the EU's circular economy and climate neutrality objectives. The PPWR, approved on 16 December 2024 by the European Council, is set to come into force in January 2025 and marks a significant step towards a sustainable and circular plastics economy.
The Dutch government has already recognized the importance of biobased plastics in the circular plastics norm. However, this inclusion was not previously reflected in the PPWR. Avantium is pleased that the European Union now officially acknowledge the critical role that biobased plastics play in transitioning to a low-carbon, circular plastics economy. Under the new regulation, the European Commission will introduce several key measures within three years of its implementation. It will establish criteria for the use of biobased feedstocks in plastic packaging, set ambitious targets to increase the use of biobased feedstocks in plastic packaging, and use biobased plastic when suitable recycling technologies for food-contact packaging are not available.
Avantium believes that its biobased and recyclable polymer PEF (polyethylene furanaote), known as releaf®, can play an important role in achieving these targets. Releaf® is 100% biobased, substantially reducing reliance on fossil-based resources and significantly lowering CO2 emissions. Releaf® is furthermore recyclable and can be recycled in existing recycling assets. Moreover, releaf® has superior barrier properties for gases like carbon dioxide and oxygen, which extend the shelf life of packaged products. Its high mechanical strength allows for thinner packaging, reducing material usage and waste. These performance benefits make releaf® an ideal choice for a wide range of packaging applications.
Marco Jansen, Avantium’s Chief Commercial & Public Affairs Officer, comments: "We welcome the EU's progressive stance on biobased plastics. Avantium looks forward to collaborating with industry partners, policymakers, and stakeholders to achieve these targets and drive innovation in biobased plastics. Together, we can create a more sustainable and resilient future for the plastics industry.”
About Avantium
Avantium is a pioneering commercial-stage company focused on renewable & circular polymer materials. Avantium develops and commercialises innovative technologies for the production of materials based on sustainable carbon feedstocks, i.e. carbon from biomass or carbon from the air (CO2). 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 create 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
