''This unit converts plant sugars into MMF, a key intermediate in the FDCA production process, and we are proud to say MMF is now being produced successfully. With our utility systems already operational, we’re now moving ahead with commissioning and starting up the oxidation and purification units. Sales under the offtake agreements are now expected to commence in the first quarter of 2026.
We’re seeing strong commercial traction, having secured 20 offtake agreements and 7 capacity reservations to date. This momentum is further strengthened by key regulatory approvals and strong financial support. In recent months, Avantium has secured €20 million in new financing from the Province of Groningen, Invest-NL, and a consortium of lenders, of which €10 million is intended to be repaid from proceeds of the equity raise which we launch today. We also reached an agreement with our lenders to amend the terms of our existing Debt Financing Facilities, resulting in substantially improved conditions that support long-term cash preservation through lower cash interest rates and reduced repayment obligations. Today, we are launching a fully committed and underwritten €65 million equity raise, with €12.25 million in cornerstone investments and pre-commitments already secured. We are especially grateful for the support of the Dutch State, represented by the Ministry of Climate Policy and Green Growth, which underscores the relevance of our innovation in helping to tackle the pressing societal challenges posed by plastic production and waste.
