The European Investment Bank supports Ercros' 3D Plan
The EIB and Ercros sign an agreement to provide EUR 40 million in financing for investments that will help the company contribute to Europe's digital and climate transition.
In particular, the investments included in this loan are in the fields of research, development and innovation (RDI), digitalisation, decarbonisation and modernisation. The EIB loan is backed by the guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
The EIB financing will support Ercros in achieving its goal of reducing its greenhouse gas emissions by 39% by 2025 (compared with 2020 levels) through improved energy efficiency and the use of renewable energies. It will also contribute to consolidating the company's leadership by implementing operational improvements and developing new products.
This funding will further Ercros' strategy to reduce its greenhouse gas emissions by 39% by 2025
The President and CEO of Ercros, Antonio Zabalza Martí, thanked the EIB for the support it provides to the European industry to improve its competitiveness and sustainability. "With the backing of the EIB -he explained- Ercros will have adequate resources to accelerate its transformation into a sustainable company through the diversification of its production structure, its digital transformation and the adaptation of its environmental benefits to the decarbonisation requirements of the European agenda to curb the climate change".
The vice-president of the EIB, Ricardo Mourinho Félix, has assured: “Thanks to the support of the EU banks, Ercros will incorporate the latest technologies to continue leading its sector. Financing the strategy innovation, modernization and decarbonisation of Ercros is an important signal to support the competitiveness of the European chemical industry and also to demonstrate once again the commitment of the EIB to the fight against climate change and sustainable growth”.
European Commissioner for Economic Affairs Paolo Gentiloni said: "The Investment Plan for Europe continues to deliver results. We welcome the agreement between the EIB and Ercros, which will help Ercros contribute to Europe's digital and climate transition. The additional financing will enable Ercros to significantly reduce its emissions as early as 2025, while upgrading its facilities and processes to better, safer and more environmentally friendly products in line with the European Green Deal".