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Avantium and BP Extend Strategic Partnership

AMSTERDAM, October 16 /PRNewswire/ -- Avantium, a leading technology company servicing the oil, chemicals and pharmaceutical industries, announces the three-year extension of the strategic research collaboration with BP, one of the world's largest energy companies.

Avantium provides innovative, high value-added R&D services and tools to the energy, chemicals and pharmaceutical industries, and has a long standing relationship with BP. The collaboration builds on the strategic relationship between BP and Avantium that was initiated in 2005. The strategic research collaboration in the area of purified terephthalic acid (PTA) is extended for a period of 3 years. During this period Avantium will apply its advanced high-throughput R&D technology, services and modeling capabilities in the research and technology portfolio of BP's PTA business.

Tom van Aken, Chief Executive Officer of Avantium: "We are very pleased to continue our strategic relationship with BP. Over the past years, the teams of BP and Avantium have successfully collaborated to apply our unique technological capabilities to BP's PTA business. The continuation of our joint efforts is an excellent proof of the added value of our technology and expertise."

Sue Davison, Business Technology Manager BP Aromatics and Acetyls: "This strategic collaboration with Avantium is consistent with BP's global technology position in PTA, and affirms our commitment to continue to employ leading technologies such as high-throughput R&D for continual improvement of our PTA business."

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, including many of the world's largest energy, chemicals and pharmaceutical companies. Avantium has approximately 100 employees; its offices and head quarters are based in Amsterdam.

Other information

This release may contain certain forward-looking statements relating to the business, financial performance and results of Avantium and the industry in which it operates. These statements are based on its current plans, estimates and projections, as well as its expectations of external conditions and events. A number of important factors, and the inherent risks and uncertainties that such statements involve, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements.

In the event of any inconsistency between an English version and a Dutch version of this document, the English version will prevail over the Dutch version.

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SOURCE Avantium Technologies B.V.
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