The Siam Cement Public Company Limited (SET: SCC) has announced a 173 million baht investment to hold 3% stake in Avantium’s possesses diverse proven renewable chemicals technology through its subsidiary, SCG Chemicals.
SCC announced that SENFI Ventures Company Limited (or SENFI Ventures), a wholly owned subsidiary of SCG Chemicals Public Company Limited (or SCGC) (a wholly owned subsidiary of SCC) has invested in new ordinary shares of Avantium N.V. (or Avantium) a listed company in the Stock Exchange of the Netherlands (Euronext). SENFI Ventures will hold a 3.00% stake of total share. The total investment is at 173.02 million Baht (or approximately 4.5 million Euro).
Avantium possesses diverse proven renewable chemicals technology. Examples include bio-based Polyethylene Furanoate (PEF), and CO2-based polymers that utilize technology to convert CO2 to high-valued green polymers.
This investment in Avantium is expected to create further growth in value and synergy to SCGC’s Green innovation to low carbon economy. This Preferred Partner status is to foster and expand ventures related to Green Polymer, and reinforces the transition towards Low Carbon Economy commitment. This aligns with SCGC’s goal of producing 1 million tons of SCGC Green Polymer by 2030.
