Serbian SME Papir Print converts waste gases to energy and installs solar panels with EBRD and EU support

Serbian SME Papir Print converts waste gases to energy and installs solar panels with EBRD and EU support

(IN BRIEF) Serbian company Papir Print has invested in a thermal oxidation plant that converts waste gases into heating and cooling energy, as well as a rooftop solar power plant, with the support of the EBRD and the EU. The investments have allowed the company, which produces flexible packaging for the food and pharmaceutical industries, to cover a quarter of its energy needs from renewable sources, reduce operational costs, and improve competitiveness. The EBRD and EU also helped finance new printing machines, which improve the quality of printing and detect errors and delays during the production process. The SME Competitiveness Programme, which provides EBRD loans and EU grants to local firms in cooperation with local commercial banks, supported the investments, along with the EBRD’s business advisory program.

(PRESS RELEASE) LONDON, 10-May-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, announces that Serbian company Papir Print is on its way to becoming a zero-waste producer, thanks to the support of the EBRD and the European Union. The company, which produces flexible packaging for the food and pharmaceutical industries, recently invested in a thermal oxidation plant that converts waste gases into heating and cooling energy, and a rooftop solar power plant that allows it to cover a quarter of its energy needs from renewable sources.

“Most of our employees live in Gornji Milanovac, where the company is located. Our motivation to invest in this equipment was not only to align with green standards and achieve energy savings; we also want to be a responsible company which cares about the environment, clean air and the health of its people,” explains company owner Petar Obradović.

In addition to reducing its carbon footprint, these investments will help the company reduce operational costs and boost its competitiveness. With the support of the EBRD and the EU, Papir Print also invested in new printing machines that detect errors and delays during the production process, reducing or eliminating the occurrence of any scrap in production.

“This alignment with the EU’s green standards helps us in our business development too. Our clients are large international brands such as Coca-Cola and Nestlé, and these companies choose to work with suppliers who share the same environmental standards,” adds Miloš Marić, Production Manager.

The investments were financed under the SME Competitiveness Programme, which provides EBRD loans and EU grants to local firms in cooperation with local commercial banks. The programme has supported over 350 businesses in Serbia, with 74% of those investments contributing to improving energy efficiency and reducing CO2 emissions.

“Lower operational costs give us more flexibility when it comes to adjusting our prices and offering more competitive conditions to our existing and prospective clients,” explains Marić. “We already export our products to neighboring countries, but our goal is to expand our services to western Europe, which would allow us to increase our profits significantly. With our high quality standards and competitive conditions, we hope to be able to achieve this.”

Papir Print also benefited from the business advisory programme offered by the EBRD in partnership with the EU, which helped the company improve its financial management, human resources practices, and other areas. Overall, these investments and support from the EBRD and the EU have helped Papir Print become a leader in green production in Serbia.

“Improving access to finance and helping SMEs to grow their businesses is one of the EBRD’s key priorities in Serbia. Together with the EU and local partner banks, we are financing investments that strengthen access to export markets and speed up the transition to a greener, more sustainable economy,” says Matteo Colangeli, EBRD Director for Western Balkans and Head of Serbia.

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Email: press@ebrd.com

SOURCE: EBRD