Issue 01/2017

News
daily upated news at
www.bioplasticsmagazine.com
Avantium announced acquisition of Liquid Light
In early January, Avantium (Amsterdam, The Netherlands), a leading chemical technology company and a forerunner in
renewable chemistry, announced it had acquired Liquid Light Inc. (Monmouth Junction, New Jersey, USA), a company spun
out from Princeton University in 2008 that has developed and patented low-energy electrochemistry technologies to convert
CO 2
into major chemicals. Their patent portfolio includes filings on producing multiple chemical building blocks used in large
existing markets, including oxalic acid, glycolic acid, ethylene glycol, propylene, isopropanol, methyl-methacrylate and acetic
acid for the production of polymers, coatings and cosmetics.
The development of electrochemistry has the potential to use CO 2
as a feedstock for the sustainable production of chemicals
and materials, and is seen as a ’game-changer’ for the chemical industry. The technology behind the process is simple: Take
CO 2
and mix it in a water-filled chamber with an electrode and a catalyst. The ensuing chemical reaction converts CO 2
into a
new molecule, methanol, which can be used as a fuel, an industrial solvent or a starting material for the manufacture of other
chemicals. By adjusting the design of their catalyst, Liquid Light can produce a range of commercially important multi-carbon
chemicals. Additionally, by using ‘co-feedstocks’ along with CO 2
, a plant built with Liquid Light’s technology may produce
multiple products simultaneously.
Tom van Aken, Chief Executive Officer of Avantium, said: “The acquisition of Liquid Light is an important step in our strategy
to create and commercialize breakthrough technologies in renewable chemistry. It will extend our capabilities beyond catalytic
conversion of biomass. This acquisition will enable the development of a powerful technology platform on the basis of carbon
dioxide feedstock, meaning it turns waste into valuable products such as chemicals and plastics.”
The technology and patent portfolio of Liquid Light will be integrated into Avantium’s Renewable Chemistry business unit and
its existing R&D program in electrochemistry. The combination of Liquid Light’s expertise in electrochemistry with Avantium’s
expertise in catalysis and process engineering will be the basis of an unrivaled technology platform to develop novel production
technologies for converting CO 2
to chemicals and materials.
The integration of the Liquid Light assets into Avantium is complete and effective immediately. Financial details of the
transaction were not disclosed. KL/MT
www.avantium.com
Solegear acquires Lindar Bioplastic Division
The Canada-based producer of plant-based plastics announced end of last year that it was acquiring 100 % of LINDAR
Corporation’s bioplastic division for CAD$ 845,000, comprising 4,225,000 common shares of the Company at a deemed price
of $0.20 per share.
Lindar is a leading manufacturer of plastic thermoformed food packaging, trays and products for industrial OEM industries.
Located in Baxter, Minnesota (USA), the company has been producing thermoformed packaging since 1993 and is a leader in
packaging innovations, including single-serve and tamper evident food packaging.
“Lindar was one of the early innovators to embrace the important role packaging design can play in ensuring food safety. By
combining Lindar’s thermoformed packaging know-how with Solegear’s commitment to engineering plant-based materials
with no BPAs or phthalates, this acquisition positions Solegear with the people, infrastructure, products and pricing to further
scale our business at a faster rate.”
For Lindar, the acquisition by Solegear will make it possible to create scale and engage more customers about what is
possible with plant-based packaging. “Something that is much easier to achieve with Solegear than on our own,” said Tom
Haglin, President of Lindar. “As Lindar’s bioplastic division becomes part of the Solegear family, Lindar will be able to capitalize
on this business association by introducing new and expanded products with greater capabilities.”
The purchased assets generated over CAD$1.3 million in revenue in 2015.
Revenues generated from the purchased assets are expected to be accretive to Solegear during the current fiscal year.
Issuance of the Shares to LINDAR is conditional upon execution of the Outsourcing Agreement, and completion of the Asset
Purchase remains subject to TSX Venture Exchange approval. The Shares will be issued from treasury and subject to a 24
-month hold period from the signing date of the Outsourcing Agreement. MT
www.solegear.ca
6 bioplastics MAGAZINE [01/17] Vol. 12