Capricorn Cleantech Fund invests in Avantium

Amsterdam, 29 October 2008 - Avantium announced today the successful completion of a € 18 million private financing round.
Avantium is active in the development and commercialization of Furanics, Avantium's next generation biofuel and bioplastic, and the improvement of pharmaceutical products. The financing will be used to accelerate its two proprietary development programs. The focus of the next-generation biofuel and bioplastic program is on large scale production of Furanics and extensive car testing. Avantium's pharmaceutical program encompasses the improvement of selected existing drugs. Aescap Venture acted as lead investor in the financing. Other partners of the investment syndicate are Capricorn Cleantech Fund, ING Corporate Investments and Navitas Capital.

More info on the press release or Avantium's website.