NIB Nordic Investment Bank

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29 Nov 2016

NIB signs loan with European Spallation Source for materials science research

ESS
The ESS materials science hub. Visualisation: ESS.

NIB and the European Spallation Source ERIC (European Research Infrastructure Consortium) have signed a seven-year loan agreement of EUR 100 million for the construction of the neutron research facility ESS in Lund, Sweden.

The European Spallation Source (ESS) is a state-of-the-art multidisciplinary research centre based on what will be the world’s most powerful neutron source and is globally one of the largest science and technology infrastructure projects currently being constructed.

ESS will host a linear proton accelerator, a helium-cooled tungsten target wheel and 22 neutron instruments, and will produce neutron beams up to 100 times more intense than any other existing neutron source. This will open up new materials science research opportunities in fields of life sciences, environmental technology, telecommunications and fundamental physics.

The ESS laboratory and campus properties will be certified as “Excellent”, the second highest label under the BREEAM sustainability assessment method for buildings, due to the high environmental efficiency of the materials used and the relatively low energy consumption during operation.

“Together with the Max IV synchrotron lab in Lund, the ESS will form one of the largest materials research hubs in Europe. Up to 3,000 researchers a year will use the facility, which will promote interdisciplinary cooperation and knowledge management in the region”, says Henrik Normann, NIB President & CEO.

Construction began in 2014, and user programmes will start in 2023. The total approved investment cost for the project amounts to EUR 1.84 billion.

The European Spallation Source (ESS) is a European Research Infrastructure Consortium (ERIC), established on 31 August 2015. Currently, the European Spallation Source ERIC has twelve member countries. Three observer countries are expected to join as full members in the near future. The host countries are Denmark and Sweden.

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 Tore Emanuelsson, Senior Manager, Origination, at +358 10 618 0239,

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234,

 
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