In the Netherlands, the Dutch cabinet recently announced that the National Growth Fund (Nationaal Groeifonds) has selected the BioBased Circular (BBC) proposal for funding. The BBC programme, submitted also on behalf of Avantium, includes a track dedicated to the engineering and construction of a Flagship Plant to produce plant-based glycols based on Avantium’s Ray Technology™. The BioBased Circular programme aims to set up a sustainable sugar-based chemical and materials manufacturing industry in the Netherlands. The programme, which runs until 2032, will link up the agricultural sector with the chemical and plastics industry, creating entirely new sustainable value chains to position the Netherlands as a frontrunner in the production of plant-based and circular plastic materials.
The BBC programme is conditionally awarded €338 million in total. The Ray Technology™ Flagship Plant had requested a total award of €53 million, which is now conditionally approved. One of the conditions is that the Ray Technology™ Flagship Plant will be constructed in the Netherlands. Other conditions that are detailed in the National Growth Fund report will be further evaluated. The grant award will be paid out to the Ray Technology™ Flagship Plant project in milestone payments over the coming years and pending Final Investment Decision.
