Nordic Investment Bank Partners with Kemira Oyj to Boost Green Chemistry Innovation
(IN BRIEF) The Nordic Investment Bank (NIB) has inked a EUR 50 million loan agreement with Kemira Oyj, a Finnish chemicals company, to fund Kemira’s research and development endeavors from 2023 to 2026 in Espoo, Finland. The loan, spanning over 10 years, aims to support Kemira’s innovative solutions geared towards enhancing the efficiency and sustainability of the pulp and paper industry and water treatment sectors. This collaboration underscores NIB’s commitment to fostering green chemistry innovation and sustainable growth, building upon the successful partnership between the two entities.
(PRESS RELEASE) HELSINKI, 19-Feb-2024 — /EuropaWire/ — The Nordic Investment Bank (NIB) and the Finnish chemicals company Kemira Oyj have signed a loan agreement totalling EUR 50 million to finance Kemira’s research and development (R&D) investments during 2023-2026 in Espoo, Finland. The term of the loan is 10 years.
Kemira Oyj is a global chemicals company serving customers in water-intensive industries worldwide. The NIB financing is intended for Kemira’s R&D expenditures focused on developing innovative solutions helping the pulp and paper industry and water treatment industries operate more efficiently and sustainably.
“This loan further strengthens our longstanding collaboration with Kemira and adds an extra boost for innovation in green chemistry. Having been part of the groundbreaking ceremony of Kemira’s new Green Chemistry Park in Finnoo last year, it is exciting to continue supporting Kemira’s R&D efforts that drive sustainable growth,” says André Küüsvek, NIB President and CEO.
“Kemira has a long and good collaboration with the Nordic Investment Bank. We are pleased with the signing of this loan, which will support our R&D activities in the coming years,” says Petri Castrén, Kemira’s CFO.
Founded in 1920, Kemira Oyj provides the best-suited products and services to improve its customers’ product quality, process, and resource efficiency. Kemira’s focus is on water treatment, renewable solutions, and digital services. In 2023, Kemira had annual revenue of around EUR 3.4 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.
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. Read more at www.nib.int.
Media Contacts:
Kim Krokfors
Senior Banker, Country Lead for Finland
+358 10 618 0517
Kim.Krokfors@nib.int
Iiris Anttalainen
Communications
+358 10 618 0258
Iiris.Anttalainen@nib.int
SOURCE: Nordic Investment Bank
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