17 Sep 2020
EUR 24.77 million
Financial institutions and SMEs
|Date of agreement:||24 Jun 2009|
|Amount in EUR:||EUR 30 million|
|NACE sector / loan type:||Research and development|
|Business area:||Industries and services|
This loan contributes to climate change mitigation: 100%
The ten-year-maturity loan totalling EUR 30 million has been provided to finance research and development (R&D) activities related to enzymes used in the production of second generation bio-fuel. The loan is replacing a previous loan and aims at financing Novozymes' effort to innovate enzymes that will make bio-ethanol production from cellulosic biomass commercially feasible. Novozymes, a Danish bio-innovation company, has already come a long way in this project, and its enzyme technology for making bio-ethanol based on the stalks, leaves and husks of plants is expected to be commercially viable by 2010. Novozymes produces more than 700 products, sells to more than 130 countries and employs some 5,000 people worldwide.
Enzymes are produced industrially by growing bacteria or fungi in liquid culture. Enzyme production has undergone significant optimisation in recent decades. R&D in enzyme technology aims to obtain enzymes which would otherwise not be available and to produce enzymes with a higher specificity and purity. Enzymes also reduce industrial reliance on chemicals. Due to higher production efficiency, this project has an additional environmental benefit through reducing energy consumption and waste from the production plants.