Release date: 30 November 2022
Promoter – Financial Intermediary
NOVOZYMES A/SLocation
Description
Novozymes's research, development and innovation (RDI) investments for the development of innovative industrial enzymes, proteins and microorganisms.
Additionality and Impact
The project's activities are in line with the priorities under Horizon Europe Pillar 2 - Global Challenges & European Industrial Competitiveness. The project is eligible under Article 309 point (c) Common interest, and qualifies under the Bank's "Innovation; Digital and Human Capital" public policy goal.
The financing of this project supports RDI activities in the development of new products and technologies in the area of industrial enzymes and micro-organisms. The project is expected to improve (i) the productivity of the promoter's customers through the development of innovative solutions in terms of performance, quality, speed, safety, flexibility as well as (ii) the cost competitiveness of the promoter's products and technologies.
A part of the projects activities is expected to generate positive contributions in terms of improvement of productivity, energy saving and environmental sustainability; subsequently, the project is expected to contribute to the Bank's Climate Action & Environmental Sustainability objectives (this will be assessed in detail during the project appraisal).
The promoter's investments address the market failures and gaps associated with (i) imperfect competition and incomplete markets for innovative sustainable technologies, and those addressed by (ii) projects with positive knowledge, environmental and safety externalities generation.
The EIB support to this operation is expected to provide tangible value-added benefit, positively contributing to the promoter's RDI investments by lowering the associated cost of financing and offering more flexible terms compared to the commercial banks.
Objectives
The RDI activities will focus on the development of products and solutions that enhance product quality and process/energy efficiency in industries such as detergents, food and beverages, bioenergy, agriculture and feed and technical industries.
Comments
Enzyme-assisted products and processes enjoy increasing demand, because they typically replace more environmentally intrusive conventional chemical or more energy intensive processes. Henceforth, following the net-positive effect of enzymatic processes on the environment and their very broad range of applications, this programme will also have a positive contribution on climate action and environmental sustainability.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 287 million
Environmental aspects
The project includes RDI activities that are not specifically mentioned under the EIA Directive and that will be carried out in existing facilities without changing their already authorised scope. The project will therefore not require an environmental impact assessment (EIA) under the directive 2014/52/EU amending directive 2011/92/EU.
Procurement
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.
Status
Signed - 26/01/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).