UPM acquires Ray Technology® intellectual property from Avantium, broadening its bio-based glycols IP portfolio

The acquisition strategically broadens the scope of UPM's IP portfolio safeguarding biomass-to-glycols conversion pathways and adds optionality for future process configurations as UPM continues to scale its bio-based chemicals business. It reinforces UPM's standalone position as the first company to bring lignocellulosic biomass-based chemicals production to industrial scale, currently being started up at the UPM Leuna biorefinery in Germany. The close alignment with Avantium, a recognised leader in renewable and circular polymer materials, supports the rapid development of a strong industrial bioeconomy in Europe, which can be expected to scale faster with multiple industrial options entering the market in parallel.