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

(UPM, Helsinki, 13 May 2026 at 19:00 EEST) - UPM today announces that it has reached an agreement with Avantium N.V. to acquire the intellectual property related to Avantium's Ray Technology®, a process for the production of bio-based mono-ethylene glycol (MEG) and mono-propylene glycol (MPG) from plant-based sugars. The transaction comprises Avantium's patent portfolio and invention disclosures related to Ray Technology® and is for UPM not material in financial terms. The strategic value lies in the expansion of UPM's intellectual property position across the conversion of lignocellulosic biomass to bio-based glycols.

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.

"This acquisition is a focused step that strategically expands the scope of our IP portfolio in bio-based glycols and strengthens our freedom to operate as we scale the industrial production of renewable chemicals," said Harald Dialer, Chief Technology Officer at UPM & Executive Vice President UPM Next Generation Renewables. "Combining Avantium's Ray Technology® patent estate with our own platform broadens our future process options and solidifies the premium market position we have obtained with our 100% UPM Bio PET ™. This transaction confirms UPM's role as a frontrunner in building a competitive European industrial bioeconomy."

UPM acquires Ray Technology® intellectual property from Avantium, broadening its bio-based glycols IP portfolio. (Picture: UPM)

For further information please contact:
Martin Ledwon, Vice President Marketing, Sustainability and Communications at UPM Next Generation Renewables, martin.ledwon@upm.com

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UPM Next Generation Renewables

UPM Next Generation Renewables creates sustainable, wood-based alternatives to fossil raw materials, ranging from renewable glycols and lignin-based functional fillers to renewable diesel and naphtha. With first of its kind biorefineries in Lappeenranta, Finland, and Leuna, Germany, we scale high-quality, low carbon solutions for textiles, packaging, plastics, transport fuels and many other applications. We enable customers to reduce emissions, improve environmental performance and accelerate the transition to a circular bioeconomy. UPM Next Generation Renewables empowers brands, converters and industries worldwide to achieve their climate and sustainability targets with confidence, while defining a future where renewable materials and sustainable production are the new normal.

UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.
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