- Specialty chemicals company receives credit line of €200 million to develop climatefriendly, digital and sustainable products.
- ALTANA meets the EIB’s stringent lending criteria.
- Credit line opens up additional research areas, for example in resource-efficient digital printing.
ALTANA products already contribute to conserving resources and protecting the climate. Amongst other things, ALTANA will also use the EIB’s additional research funding to develop further sustainable packaging materials and promote resource-efficient digital printing solutions. ALTANA itself intends to become climate neutral by 2025.
The EIB — as the EU climate bank — judges that ALTANA meets its strict lending requirements. The R&D projects 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. Sustainability and innovation have been an integral part of ALTANA’s strategy for many years. ALTANA’s 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 powerful electric motors.
“The EIB is proud, as an anchor lender, to work with ALTANA and facilitate further research projects supporting climate neutrality and digitalisation,” said EIB Vice-President Ambroise Fayolle, who is responsible for the environment, climate programmes 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.”
Angela Drautz, Head of Treasury at ALTANA AG, said: “To receive EIB financing, high technical and environmental standards must be met. We were able to demonstrate convincingly that the projects now supported by the EIB provide concrete added value in achieving the European Union’s overarching climate goals.”
Dr Petra Severit, Chief Technology Officer at ALTANA, added: “With the loan, we will have even greater freedom in our 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.”
“We are delighted that in the EIB, we have found a partner that pursues the same sustainability goals as our company,” concluded Stefan Genten, Chief Financial Officer of ALTANA AG. “In combination with the sustainability-linked credit line recently signed with a consortium of banks, we could completely renew our Group’s long-term financing.”
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. As the EU climate bank, the EIB has a particular focus on projects that serve the European Union’s objective of climate neutrality.
