EIB provides GBP100m for Johnson Matthey’s European R&D
- Release date: 23 November 2012
- Reference: 2012-169-EN
Specialist research into emission control, process and low carbon technologies undertaken by Johnson Matthey will be supported by a GBP 100m loan agreed with the European Investment Bank. This work is expected to make a significant contribution to reducing harmful emissions from transport and industry in the decades ahead. It will support Johnson Matthey’s research focus on both light and heavy duty vehicle emission control and on developing catalyst technologies that meet stricter emission standards that are coming into force in the next few years. The research will also support work in advanced platinum group metal refining technology and in developing more environmentally friendly materials for applications ranging from glass to electronics.
The loan agreement was signed in London by senior representatives of Johnson Matthey and the European Investment Bank.
“Improving technology to reduce pollution is a key to improving air quality and fighting climate change. The European Investment Bank recognises the essential role of specialist emission research and development techniques to reduce harmful emissions from both vehicles and industry. We are pleased to support Johnson Matthey’s engagement in this field and to support their contribution to improved emission controls and fuel cell research.” said Simon Brooks, European Investment Bank Vice President.
Commenting on the loan, Robert Macleod, Group Finance Director of Johnson Matthey Plc said “Our investment in R&D is a key element of our strategy to deliver superior long term growth and this loan supports that growing expenditure in the UK. It is the third time that the EIB has provided finance for our R&D investments and the Bank continues to form a key part of our funding portfolio. We look forward to continuing our relationship over the coming years”
The European Investment Bank loan will be used to support work at Johnson Matthey’s Sonning Common, Berkshire and Billingham, Teeside, R&D centres over the next two years. Specific research and development activity by Johnson Matthey’s Environmental Technologies Division and other business units will cover process catalysis, fuel cells, emission control catalysts and low carbon technology. This will also include research collaboration with universities, research centres and business partners.
More than GBP 21 billion of loans have been provided for UK based projects over the last five years, including support for development of low emission engines with JaguarLandRover and electric battery research with Nissan UK.