Avantium Renewable Polymers and R&F Chemical today announced plans to collaborate on developing a market for PEF in electronics and smart packaging in Korea.
The partnership is an expansion of the existing relationship between the two companies: previously, in 2018, the catalysis business unit of Avantium joined forces with R&F Chemical to boost its business in South Korea.
This partnership is a further validation of Avantium’s strategy to focus on high-value applications for PEF (polyethylene furanoate) for its 5 kilotons Flagship Plant with a planned opening in 2023, announced on the Technology & Markets Day of Avantium in June 2019.
PEF is a 100% plant-based and fully recyclable performance polymer based on Avantium’s proprietary YXY plants-to-plastics technology. R&F Chemical brings a long-standing and excellent network in polymers and chemicals in South Korea, which has a highly-advanced performance materials and chemical sector. Through R&F Chemical, Avantium Renewable Polymers expects to enter this market for high-value applications such as electronics and smart packaging.
Marcel Lubben, Managing Director of Avantium Renewable Polymers, comments: “Avantium Renewable Polymers sees fast-growing interest for PEF in high-value markets across the globe. R&F Chemical is highly respected as a leader in the development and marketing of high-performance sustainable plastics. The South Korean industry is deeply committed to innovation. We are therefore very pleased to enter into a partnership with R&F Chemical who brings us access to important market players in South Korea.”
Peter Park, CEO of R&F Chemical, adds: “We are honoured to work together with Avantium to make Avantium’s PEF available to high-value performance products in South Korea. PEF has the capacity to significantly improve the performance and sustainability of our customers' end products.”