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The project supports the promoter's research and development investments aimed at developing innovative and sustainable materials used in the technologies for renewable energies, electronics, electromobility, construction, pharmaceuticals and other sectors. The project themes include innovations in production processes and product design in the domain of specialty chemicals and intermediates, including silicones, polymers, biotech products, and polysilicon.
The project supports the promoter's innovation strategy, which aims to reduce the company's and its customers' carbon and environmental footprints. This objective is expected to be achieved through the implementation of more resource and energy-efficient processes and the development of sustainable-by-design products, incorporating circular, degradable, less toxic, and safer solutions.
The proposed operation supports the Bank's Innovation, Digital and Human Capital objectives.
It aims at financing investments in RDI activities to develop new technologies, products, and processes for the chemical industry and across major sectors of the economy (such as mobility, energy, IT, consumer electronics, construction, health/biotechnology, amongst others). The project is expected to improve the resource efficiency, performance, and the overall sustainability of chemical products through the development of solutions and services that improve energy, emission and water efficiency, safety, and circular business models; as such, a part of the project is expected to contribute to the Bank's Climate Action & Environmental Sustainability objectives.
The project, which has a substantial portion of early-stage research, will generate positive knowledge externalities through cooperation with suppliers, customers and universities. Moreover, the project will also help maintaining and creating highly skilled jobs in the promoter's research facilities in Germany.
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 authorized 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 Directive 2011/92/EU), and therefore, do not require a screening or an EIA Report.
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.