Avantium N.V. sells bio-based MEG and MPG technology assets to UPM
Last update on May 14, 2026
Formulators evaluating bio-based glycols, including mono-ethylene glycol (MEG) and mono-propylene glycol (MPG) for use in packaging, textiles, and industrial fluid applications should be aware that the intellectual property underlying Avantium's Ray Technology® has been acquired by UPM.
The transaction was announced by Avantium N.V. and covers the patent portfolio and invention disclosures developed by Avantium up to the end of 2023.
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€2.7 Million deal: How the proceeds are allocated
The Ray Technology® IP relates to the production of bio-based MEG and MPG. According to Avantium, bio-based MEG is also an essential input for the company's FDCA and PEF technology platform, PEF being a plant-based, circular high-performance polymer.
The transaction, valued at €2.7 million, reflects Avantium's stated focus on the commercialization and licensing of its FDCA and PEF platform.
Tom van Aken, CEO of Avantium, said, “This agreement supports our strategic focus and disciplined capital allocation. We are pleased that the Ray Technology intellectual property will continue with a strong European partner and see potential for future collaboration opportunities with UPM.”
Avantium reports that further development of Ray Technology toward commercial scale would have required substantial additional investments, and that no employees were dedicated to the technology at the time of the transaction.
€2.0 million of the proceeds will be used to partially repay Avantium's debt financing facilities, with the remaining €0.7 million allocated to the dismantling of the idle Ray pilot plant and close-out costs.