Investment Plan for Europe supports Haldor Topsoe’s sustainable catalyst research and development
The EIB and Haldor Topsoe, a leading Danish chemicals company, have signed a EUR 75 million (DKK 560 million) loan agreement for research and development of cutting-edge catalyst technologies.
The agreement was made possible by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, which was launched by the EIB Group and the European Commission to boost the competitiveness of the European economy.
Catalysts enable a chemical reaction to proceed at a faster rate or under different conditions (e.g. at a lower temperature) than otherwise possible. They can help speed up many industrial processes and increase their production yield, while using less energy and saving resources. Around two thirds of all industrial products rely on catalysts in some way.
The EIB loan backs Haldor Topsoe’s research and development of new catalysts and catalytic technologies, thereby improving the energy efficiency of industrial processes and reducing the emission of greenhouse gas and pollutants.
“The European Investment Plan is often called a catalyst to private investment,” said EIB Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries. ”Well, today’s case shows that we can take this expression quite literally. Haldor Topsoe’s research and development tackles key challenges of our time by protecting our climate and the environment. And I am proud that the EIB is part of this endeavour.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "The development of innovative products requires sizeable and sustained investment. This is where the European Fund for Strategic Investments is playing a crucial role. By supporting such investments, we can ensure that European companies, such as Haldor Topsoe, will maintain their status as producers of cutting-edge catalyst technologies when competing in the global marketplace."
”The loan from EIB will fuel our research and development within catalysis as a fundamental driver in making industry more effective, while reducing the environmental footprint. We are honoured to receive this important support from EIB for the fifth time and look forward to deliver innovative, competitive and forward-thinking solutions based on world-leading research,” says CFO Peter Rønnest Andersen, Haldor Topsoe.
Background information
About 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. Over the past six years (2012-2017), EIB investments in Denmark totaled EUR 3.5 billion.
About The Investment Plan for Europe
The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results:
The projects and agreements approved for financing under the EFSI so far are expected to mobilise EUR 252 billion in investments and support around 528,000 SMEs across all 28 Member States.
On 12 December, the European Parliament voted to extend and enhance the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. The EFSI 2.0 Regulation is expected to enter into force on 1 January 2018. As well as extending the timeline from mid-2018 to the end of 2020, it will increase the investment target from €315 billion to at least €500 billion.
About Haldor Topsoe
Haldor Topsoe is a world leader in catalysis and surface science, committed to helping our customers achieve optimal performance. We enable our customers to get the most out of their processes and products, using the least possible energy and resources, in the most responsible way. We are headquartered in Denmark and have project development, R&D, engineering, production plants, and sales & service across the globe. In 2016, our revenue was approximately 860 million US dollars, and we employ some 2,300 employees. www.topsoe.com
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