NIB Backs Elkem’s Decarbonisation and Process Innovation Programme With NOK 750 Million Loan

NIB Backs Elkem’s Decarbonisation and Process Innovation Programme With NOK 750 Million Loan

(IN BRIEF) The Nordic Investment Bank has signed a 10-year NOK 750 million loan agreement with Elkem ASA to finance the company’s research and development investments in Norway between 2025 and 2029. The programme focuses on process innovation, energy efficiency, emissions reduction and the development of low-carbon materials. Around 40% of the investments are expected to have clear environmental benefits, while the rest will support improvements in yield, product quality and operational efficiency. The programme is also expected to encourage knowledge sharing through cooperation with research institutions and industrial partners. Elkem is a Norway-based industrial materials company active in silicon, ferrosilicon, foundry alloys and carbon solutions. The financing supports both the company’s decarbonisation strategy and its long-term industrial competitiveness.

(PRESS RELEASE) HELSINKI, 10-Jul-2026 — /EuropaWire/ — The Nordic Investment Bank has signed a 10-year NOK 750 million loan agreement with Elkem ASA to finance the company’s research and development investments in Norway during the 2025–2029 period.

The financing will support Elkem’s R&D programme, which focuses on process innovation, energy efficiency, emissions reduction and the development of low-carbon industrial materials.

The investments form part of Elkem’s long-term strategy to strengthen competitiveness while advancing decarbonisation across its operations and product portfolio.

Around 40% of the planned investments are expected to deliver clear environmental benefits. The remaining investments are focused on areas with less direct environmental impact, including improvements to yield, product quality and operational efficiency.

The R&D programme is also expected to generate broader knowledge benefits through cooperation with research institutions and industrial partners.

Sari Cabell, Senior Banker Industry & Real Estate at NIB, said innovation is essential for reducing emissions in hard-to-abate industries.

“Decarbonisation in hard-to-abate sectors requires sustained innovation,” said Cabell. “By supporting Elkem’s R&D investments, NIB is financing technologies that can reduce emissions while strengthening industrial competitiveness, in line with our climate and nature objectives.”

Elkem is a Norway-based industrial materials company with leading positions in silicon, ferrosilicon, foundry alloys and carbon solutions. Its materials are used across sectors including infrastructure, manufacturing, digitalisation, mobility and energy solutions.

The company combines natural raw materials, renewable energy and advanced process technology to support more sustainable industrial solutions.

Headquartered in Oslo, Elkem employs around 3,000 people and operates more than 20 sites across Europe, Asia, the Americas and Africa.

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 in the Nordic-Baltic region.

Headquartered in Helsinki, with a regional hub in Riga, NIB holds the highest possible credit rating, AAA/Aaa, from S&P Global Ratings and Moody’s.

Media Contacts:

Sari Cabell, Senior Banker, +358 10 618 0519, sari.cabell@nib.int

Arild Moen, Associate Director, External Communications Leads, +358 10 618 0496, arild.moen@nib.int

SOURCE: Nordic Investment Bank