Norway. Borregaard ASA
| Date of agreement: | 06 Mar 2014 |
|---|---|
| Country: | Norway |
| Customer: | Borregaard ASA |
| Amount in EUR: | EUR 40 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Manufacture of chemicals and chemical products |
This loan contributes to climate change mitigation: 30%
Project
The loan has been provided for financing an R&D programme for 2013–2016 and a recently commissioned biological purification plant.
The biological purification plant will significantly reduce water-based emissions. The plant also generates biogas, replacing a fossil fuel for drying lignin. This gives a reduction in CO2 emissions of more than 8,000 tonnes from 2014. Borregaard’s R&D programme is focusing on the development of new or improved products, applications and technologies which to a large extent are alternatives to oil-based products.
Borregaard operates one of the world’s most advanced biorefineries. By using natural, sustainable raw materials, the group produces advanced biochemicals and biomaterials that can replace oil-based products.
Borregaard has more than 1000 employees in 16 countries throughout Europe, the Americas, Asia and Africa.
Fulfilment of NIB's mandate
Borregaard’s R&D programme for 2013–2016 is targeted at further developing new or improved products, applications and technologies. The outcome of these innovation processes is likely to be widely distributed in the economy. The new products can be expected to have a positive impact on the environment, as they in many instances offer alternatives to oil-based products in global end-markets like construction, agriculture, food and beverages and transportation.
Borregaard’s investment in the recently commissioned biological purification plant will significantly reduce water-based emissions.
Sustainability summary
There are no environmental issues related to the project that may cause a significant negative environmental impact.
