Kemira Secures NIB Financing to Accelerate Industrial-Scale Biomaterials Production with IFF Partnership

Image: Kemira Oyj

(IN BRIEF) The Nordic Investment Bank (NIB) has approved a EUR 50 million, 10-year loan to Kemira for constructing a new biomaterials production facility in Finland. The project, jointly developed with International Flavors & Fragrances (IFF), will produce bio-based alpha-glucans using IFF’s proprietary polysaccharide technology derived from plant sugars. The EUR 130 million investment supports Kemira’s shift toward renewable and biodegradable materials, with commercial operations expected to begin within two to three years. NIB CEO André Küüsvek highlighted the project’s role in advancing biotechnology in the Nordic-Baltic region, while Kemira CFO Petri Castrén described it as a key step in achieving EUR 500 million in renewable revenues by 2030.

(PRESS RELEASE) HELSINKI, 20-Oct-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB) has signed a EUR 50 million loan agreement with Kemira to support the construction of a new biomaterials production facility in Finland. The 10-year loan will help advance the large-scale commercialisation of renewable, bio-based products developed through Kemira’s ongoing partnership with International Flavors & Fragrances (IFF).

Kemira and IFF are collaborating to bring to market sustainable, biodegradable materials that serve as renewable alternatives to traditional chemical-based products. Their joint investment—totalling approximately EUR 130 million—focuses on building a state-of-the-art commercial plant at IFF’s site in Finland to produce alpha-glucans, a key class of bio-based polymers derived from plant sugars. The technology stems from IFF’s proprietary engineered polysaccharide platform, which uses natural sugars and enzymes to create sustainable materials with high performance potential. Following successful pilot operations, the platform is now transitioning to industrial-scale production.

Construction on the new facility began in March 2025, with commercial operations expected to commence within two to three years. The project marks a major milestone in Kemira’s strategy to expand its renewable solutions portfolio and accelerate its transition toward bio-based chemistry.

“By supporting the commercialisation of breakthrough biotechnology in Finland, NIB is fostering industrial development and strengthening the Nordic-Baltic region’s contribution to a more resilient and sustainable economy,” said André Küüsvek, President and CEO of NIB.

Petri Castrén, CFO of Kemira, added, “This financing supports Kemira’s strategic transformation toward renewable solutions. It allows us to industrialize a new biomaterials platform and expand our sustainable product portfolio across key markets. The project is an important step toward our goal of generating EUR 500 million in revenue from renewable materials by 2030.”

Kemira Oyj, a global chemicals company serving water-intensive industries, focuses on providing water treatment, renewable solutions, and digital services to advance sustainability in key sectors. The company has been a long-standing NIB customer since 1990.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

For further information, please contact

Kim Krokfors, Senior Banker, +358 10 618 0517, Kim.Krokfors@nib.int

Iiris Anttalainen, Communications Officer, +358 10 618 0257, Iiris.Anttalainen@nib.int

SOURCE: Nordic Investment Bank