EIB in €40m Finland Chemicals R&D Investment

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Stockholm (NordSIP) – The European Investment Bank (EIB) last week signed a €40 million loan with Kemira Oyj, a global chemicals company headquartered in Finland.

Kemira will use the financing to increase its investments in innovation and R&D in chemical applications and technical solutions for water treatment and pulp, paper and other chemicals. The R&D project will be implemented in Kemira’s existing R&D centre in Espoo, where highly specialised positions will contribute to new products and technologies for the pulp and paper industry, municipal and industrial waste-water treatment and for the mining industry.

The loan was facilitated by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, which was launched by the European Commission together with the EIB to enhance the competitiveness of the European economy.

“The €40 million loan signed by the European Investment Bank under the Investment Plan for Europe demonstrates both the EU’s and Kemira’s commitment to investing in the circular economy and minimising waste generation, as well as delivering growth and job opportunities,” said European Commission Vice President Jyrki Katainen, who is responsible for Jobs, Growth, Investment and Competitiveness.

“With this EU-backed financing, Kemira’s R&D capabilities are reinforced to develop new products and methods for treating waste water and to research innovative solutions, for example in the paper and pulp as well as mining industries.”

Projects like supporting Kemira’s investments is part of the European effort to promote a circular economy, where the key EU priority of maintaining the value of products, materials and resources in the economy for as long as possible, minimising the generation of waste.

“Everyone knows that natural resources are limited, and that we have to make optimal use of them. The research, development and innovation programme proposed by Kemira will enable industries that use a lot of water to implement more circular economy-focused models, thus mitigating climate change,” said EIB Vice President Alexander Stubb, who is responsible for lending in Northern Europe.

The EIB has co-financed €2.4 billion’s worth of circular economy projects impacting sustainable and economic growth, competitiveness and employment in Europe and beyond in the past five years alone.

Image: (c) PsychoShadow-shutterstock

 

 

 

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