The Ray Technology® intellectual property relates to the production of the bio‑based glycols mono‑ethylene glycol (MEG) and mono‑propylene glycol (MPG), which are used in a wide range of applications such as packaging, textiles and industrial fluids. As bio‑based MEG is an essential input for Avantium’s technology to produce PEF, a plant‑based and circular high‑performance polymer, UPM is a natural and trusted owner of the Ray Technology IP.
The transaction reflects Avantium’s strategic focus on the commercialization and licensing of its FDCA and PEF technology platform. While Ray Technology has demonstrated strong potential, further development towards commercial scale would have required substantial additional investments. In light of its strategic priorities and capital allocation discipline, Avantium concluded that divesting the intellectual property was the most appropriate step. Avantium no longer has employees dedicated to Ray Technology®, and the transaction therefore has no employment consequences.
