Avantium, a Dutch company focused on sustainable chemistry, has obtained €10M in financing to bolster its short-term liquidity. This includes €4M from a subordinated loan and €6M from senior debt providers. The company is also exploring equity and government funding options but is currently unable to raise more equity due to ongoing negotiations. To manage its finances, Avantium is implementing cost controls and reviewing its business units, considering transferring ownership or partnerships for its R&D solutions and Volta Technology. This move follows a prior €11.2M share sale earlier in the year.
Avantium is working to raise additional funding by exploring various options, including equity and government support, while implementing strict cost controls.
The company announced its intention to raise €40M through a share issue, which has yet to be completed, highlighting its need for capital.
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