EVONIK NEXT GENERATION INNOVATION RDI

The project concerns the promoter's Research, Development and Innovation (RDI) investments, covering operational expenditures for the period of 2024-2027. The related activities will focus on the innovative and sustainable solutions in the field of specialty chemicals and advanced materials with the objective to maximise the development of product and process technologies with reduced carbon and environmental footprint.

The aim is to accelerate the implementation of sustainability targets by supporting the promoter's RDI programme.

The project supports the Bank's Innovation, Digital and Human Capital public policy goal. It concerns private sector investment in RDI activities in the field of specialty chemicals and advanced materials, often used by various industries (e.g., automotive, consumer and personal care products, construction, pharmaceutical and many others) for further processing. While the outcome and ultimate commercialisation of RDI activities are highly uncertain, the supported project, which has a substantial portion of relatively early-stage research, is associated with positive knowledge externalities. They are generated through cooperation with academia, research partners, suppliers and customers. The project also generates environmental externalities arising from the deployment of solutions with lower carbon and environmental footprints, achieved through fossil-free, resource efficient and circular products and technologies. Given the wide scope of sectors for the promoter's products applications, resulting spill-over effects will generate economic benefits that are greater than those captured by the investor's financial returns.

The Bank's contribution to the project is underpinned by a combination of advantageous terms, a meaningful loan amount as well as a signalling effect in terms of confidence in the business model, thereby facilitating the project's financing and full implementation.

The project activities will be carried out in existing and authorised R&D facilities. The project activities are not listed under any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2014/52/EU (amending 2011/92/EU) and therefore, do not require a screening or an EIA Report.

The promoter is a private company not operating in the Utilities sector and not having a status of a contracting entity. Thus, it is not covered by EU Directives on procurement.