NIB finances research in enzyme technology>
NIB finances research in enzyme technology
(Thomson Reuters ONE) - NIB and the Danish bio-innovation company Novozymes have signed a newloan agreement. The loan, totalling EUR 30 million, will financeresearch and development (R&D) in enzyme technology for bio-fuelproduction relying on waste and residues from crops. It is replacinga previous loan from NIB."Denmark's Novozymes is on the cutting edge of enzyme technology andNIB's loan to the research and development programme for a newgeneration of enzymes will increase competitiveness in one of ourmember countries. The aim to use the new enzymes to produce bio-fuelfrom the stalks, leaves and husks of plants will help develop asignificant and growing environmental industry," says Johnnyÿkerholm, NIB President and CEO.The transport sector is responsible for about one-fifth of carbondioxide emissions on a global scale and bio-fuel is currently theonly readily available alternative to fossil fuel in this sector. Itis expected that bio-ethanol produced from cellulose containing cropresidue will be able to reduce carbon dioxide emissions by as much as90% compared to petroleum-based fuels.Novozymes is among the world leaders in bio-innovations, producingmore than 700 products and selling to more than 130 countriesworldwide. It employs some 5,000 persons, half of which are based inDenmark. Novozymes has been the Bank's customer since 1997.NIB is a multilateral financial institution owned by eight membercountries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania,Norway and Sweden. The Bank finances private and public projects inand outside the member countries. NIB has the highest possible creditrating, AAA/Aaa, with the leading rating agencies Standard & Poor'sand Moody's.For further information, please contactMr Vidar Omholt, Senior Manager Origination, at +358 10 618 0286,vidar.omholt(at)nib.int, orMs Nina Monsen, Communications Specialist, at +358 10 618 0291,nina.monsen(at)nib.intThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 30.06.2009 - 04:30 Uhr
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