NIB finances Borregaard’s R&D programme

Photo: Borregaard ASA

NIB and Norwegian Borregaard ASA have signed a loan agreement totalling EUR 40 million. The ten-year loan will contribute to financing Borregaard’s R&D programme for 2013–2016 and the recently commissioned biological purification plant.

Borregaard has a research centre combining wood chemistry and organic chemistry. Its main focus is on the development of new or improved products, applications and technologies which to a large extent are alternatives to oil-based products in global end-markets like construction, agriculture, food and beverages, transportation and pharmaceuticals. Borregaard has 94 employees in R&D, of which 80 are located at the R&D centre in Norway.

Borregaard’s investment in the recently commissioned 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 operates one of the world’s most advanced biorefineries. Borregaard has more than 1000 employees in 16 countries throughout Europe, the Americas, Asia and Africa.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Vidar Omholt, Senior Manager Origination, at +358 10 618 0286, mixIt(‘vid’,’ar.omholt’,’nib.in’,’t’,”,’1523010104480-0′);vidar.omholt (at) nib.int

Ms Niina Rantti, Communications Specialist, at +358 10 618 0265, mixIt(‘niina.rantti’,”,’n’,’ib.int’,”,’1523010104480-1′);niina.rantti (at) nib.int