Avantium has regained the intellectual property, people and assets for YXY and has paid BASF €13.7m for its equity stake in Synvina, as agreed in the Joint Venture Agreement. A net payment of €3.7 million was made for full ownership of the assets acquired by Synvina in the last two years. “Our belief in YXY and its market potential is rock-solid. Producing FDCA and PEF is a complex innovation process that requires a completely new value chain. I am convinced that the work done so far and the value chain we have built will spur the commercialization of PEF. We have the people, ambition and expertise to bring FDCA and PEF successfully to market, and are very pleased Marcel Lubben will strengthen the team to spearhead this.” Tom van Aken, Avantium Chief Executive Officer.