In keeping with its aim to become the global leader in carbon emission reduction solutions by 2024, Danish technology provider Haldor Topsoe has inked a €45 million loan arrangement with the EIB to fund its research and development expenditures in that field.
The European Investment Bank’s financing is made possible by the European Fund for Strategic Investments (EFSI), the primary component of the European Commission’s Investment Plan for Europe. The European financing demonstrates the company’s commitment to creating new technologies that will assist a broad spectrum of energy-intensive businesses in transitioning to a low-carbon future.
Roeland Baan, CEO of Haldor Topsoe, said: “Transitioning society towards clean energy solutions is vital in the battle against climate change. This funding will support our research into innovative hydrogen technologies that will ultimately enable our customers to produce low-carbon products for society. We are thankful for the funding, which is a testimony to our strong cooperation with the EIB.”
The R&D expenditures financed by the EIB support Haldor Topsoe’s objective to develop innovative technologies and catalysts that will assist its clients in making the transition to a higher proportion of renewable energy and carbon neutral industrial activities. To accomplish this goal, the corporation places a premium on research and development activities that have the greatest potential for lowering carbon emissions.
“The development of innovative products requires sizeable and sustained investment, and I am glad that we can once again support Haldor Topsoe’s R&D investments,” said EIB Vice-President Christian Kettel Thomsen. “Supporting this type of cutting-edge research by a European company is of strategic importance in terms of safeguarding technology and know-how, but it obviously also benefits economic growth and employment. Haldor Topsoe’s research and development tackles key challenges of our times by protecting our climate and the environment, which is fully in line with the EIB’s climate action objectives.”
Investments in R&D for the development of novel catalysts, catalytic technologies, and innovative hydrogen technologies that are projected to minimize carbon emissions are a clear priority. Several of the most promising environmentally friendly technologies in that regard are aimed at the manufacture of more ecologically friendly chemicals and renewable fuels, such as green hydrogen, green ammonia, biofuels, and electrified methanol.
Valdis Dombrovskis, European Commission Executive Vice-President responsible for an Economy that Works for People, said: “I welcome this agreement between the EIB and Danish company Haldor Topsoe AS, which benefits from a guarantee under the Investment Plan for Europe. The additional financing will go towards research to develop innovative hydrogen technologies and contribute to reducing carbon emissions. We need businesses and their innovation potential to deliver on the European Green Deal and our goal of carbon neutrality by 2050. This example is a great contribution to these efforts.”
