COVESTRO SUSTAINABLE SOLUTIONS RDI

Promoteur – Intermédiaire Financier

COVESTRO AG

Lieu

• Allemagne
• Pays-Bas
• Belgique

Description

The project concerns the promoter's R&D investments over a 4-year period (2023-2026) focusing on the development of innovative and sustainable solutions for high-tech polymer materials used in many areas of daily life

Additionality and Impact

The project supports the Bank's Innovation, Digital and Human Capital public policy goal. It concerns private sector investment in R&D activities in the field of advanced polyurethane and polycarbonate based materials, serving wide scope of industries, including automotive manufacturing, electronics, construction and home products. While the outcome and ultimate commercialisation of R&D activities are highly uncertain, the supported project will contribute to increased knowledge and know-how for further market penetration of new technologies and products with increased environmentally friendly performance, that are essential to meet carbon neutrality. In particular, the project will contribute to advancing innovative circular, resource efficient and pollution prevention technologies in specific chemical industry segments. Given the wide scope of sectors for the promoter's products application, 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.

Objectifs

The EIB financing will accelerate the implementation of the promoter's strategy of sustainable growth to become carbon neutral and fully circular. The R&D activities will cover the promoter's main business segments with the focus on developing innovative products and technologies to move away from fossil resources to to secondary and renewables sources, such as plastics waste, biomass and CO2.

Secteur(s)

• Industrie - Industrie manufacturière

Montant BEI envisagé (montant approximatif)

EUR 400 million

Coût total (montant approximatif)

EUR 879 million

Aspects environnementaux

The RDI activities will be carried out in already existing and authorised R&D facilities. The project does not fall under any of Annexes of the Environmental Impact Assessment Directive ? Directive 2014/52/EU amending Directive 2011/92/EU and therefore, not requiring screening or EIA Report.

Passation des marchés

The promoter is a private company not operating in the Utilities sector and not having a status of a contracting entity. EU Directives on procurement are therefore not applicable.

Statut

Signé - 13/09/2023