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Avantium Completes EUR 18 Million Financing Round
Date:10/29/2008

and experience in facilitating rapidly growing technology companies in the healthcare and cleantech arena. It marks the next phase for our company and enables us to advance our product development programs. Closing this financing round of EUR 18 million in the current turmoil of the financial markets is a clear sign of the strength of the company and the commitment of our new shareholders."

Michiel de Haan, General Partner of Aescap Venture and new member of the supervisory board of Avantium, stated: "The Avantium organization incorporates all the necessary elements to become a major Technology company. As Venture Capital investor we are proud to be able to support this company and share our experience in this entrepreneurial process. Thanks to the productive and intense interactions we had with management and the existing shareholders we were able to form the new shareholders consortium which provides the solid basis required to build Avantium into a world class company."

Profile Avantium

Avantium is a leading technology company in the area of advanced high-throughput R&D operating in the energy, chemicals and pharmaceutical industries. The company develops products and processes in the area of biofuels, bio-based chemicals and novel crystal forms of existing drugs by applying its proprietary, high-throughput R&D technology. Avantium has demonstrated the potential of this technology by providing R&D services and tools to more than 70 companies worldwide. Avantium's customer base includes many of the world's largest energy, chemicals and pharmaceutical companies, such as BP, Shell, Sasol, Pfizer and GSK. The company recorded over EUR 15 million of revenues in 2007 and expects to continue the double digit growth of its profitable services & tools business in 2008. Avantium has approximately 130 employees; its offices and head quarters are based in Amsterdam, the Netherlands.

High-resolution pictures of Avantium laboratories, Furanics biofu
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SOURCE Avantium Technologies B.V.
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