AVALON Industries Takes Over Biobased Chemistry Activities from AVA-CO2
ZUG, Switzerland - AVALON Industries AG, the new entity of the Swiss-based company AVA-CO2 Schweiz AG, is taking over all biobased chemistry activities from AVA-CO2 with immediate effect. In order to fully focus on biochemistry, AVA-CO2 has also decided to sell its Hydrothermal Carbonization (HTC) technology to International Power Invest AG, a holding company investing in renewable energy projects. From now on, AVA-CO2 will act as a holding company.
In response to rapid application developments relating to bio-based chemical 5-hydroxymethylfurfural (5-HMF) and following increased 5-HMF demand from value-chain partners, AVALON Industries was created to take advantage of new market opportunities and to prepare for future large-scale production. A subsidiary of AVA-CO2, AVALON Industries is taking over all operational activities from AVA-CO2 and will focus on the global implementation of the Hydrothermal Processing (HTP) technology for the industrial-scale production of 5-HMF. This technology was successfully developed and patented by AVA-CO2 over the last seven years.