Source: Nordic Investment Bank 2
NIB and the Danish biotech company Novozymes A/S have agreed on a DKK 750 million (EUR 100 million) loan to finance the company’s research and development (R&D) expenditures in 2019.
The ten-year-maturity loan supports Novozymes’ R&D activities in bio-agriculture, household care as well as food and beverages platforms. The projects also involve general biotechnology research.
The investments will strengthen Novozymes’ market leading product portfolio in animal health, biomass conversion and other biotech solutions in agriculture. Moreover, innovations in household care and food and beverage platforms will ensure better quality and more efficient production.
Novozymes is one of the most R&D intensive companies in the Nordic-Baltic region. Every year, approximately 13% of the company’s revenue is reinvested into research, and new products account for around 27% of the annual sales.
This is NIB’s fifth loan agreement for Novozymes R&D investments.Novozymes is a global biotechnology company with a strong focus on enzyme production. The company’s bio-solutions range from the removal of trans-fats in food to advancements in renewable energy sources. The company has more than 700 products in its portfolio and holds more than 6,500 active and pending patents.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact:Mr Vagn Lundhøj, Senior Manager, Origination, at +358 10 618 0370, Vagn.Lundhoj@nib.intMr Vytautas Brazaitis, Communications Unit, on +358 10 618 0235, Vytautas.Brazaitis@nib.int