European Investment Bank supports Altana’s green research projects
A €200 million credit line opens up additional research areas, and enables greater freedom for resource-efficient digital printing solutions.
Altana’s BYK subsidiary provides products to the composites industry. Photo Credit: Altana
Specialty chemicals company Altana (Wessel, Germany) has received a €200 million credit line from the European Investment Bank (EIB) to use for the research and development (R&D) of climate-friendly and sustainable packaging materials, as well as promote resource-efficient digital printing solutions for the next ten years. Altana itself intends to become climate neutral by 2025.
As the EU climate bank, the EIB has judged that Altana meets its strict lending requirements. The R&D projects are said to comply with many of the bank’s environmental, social and governance (ESG) criteria. The development of safe products, the resource-efficient use of raw materials and the development of sustainable production technologies also support the European Union’s Green Deal, the EU roadmap for achieving climate neutrality and preserving the environment.
According to Altana, sustainability and innovation have been an integral part of its strategy for many years. Pioneering products to date include systems for water-based coatings that replace the use of solvents, PVC-free seals for glass jars containing baby food and insulation materials for electric motors.
“The EIB is proud, as an anchor lender, to work with Altana and facilitate further research projects supporting climate neutrality and digitalization,” says EIB vice president Ambroise Fayolle, who is responsible for the environment, climate programs and the circular economy, along with the
EIB’s activities in Germany. “In light of rising global demand for chemical products, there is a growing need for these products to be resource-efficient and environmentally friendly. The chemical industry can make a significant contribution to environmentally compatible production which Altana has been working on successfully for years.”
According to Dr. Petra Severit, CTO at Altana, with the loan, the company will have even greater freedom in its research in the future. “As such, we will be able to tailor our innovative strengths to our ambitious approach even more closely, continuing to set new standards in specialty chemicals in the future.”
