Photo: European Spallation Source ERIC

Photo: European Spallation Source ERIC

31 May 2021

NIB signs loan with ESS for materials science research

NIB and the European Spallation Source ERIC (European Research Infrastructure Consortium) signs 8-year loan agreement of SEK 507,5 million (EUR 50 million) for the initial operation of the neutron research facility ESS in Lund, Sweden.

The European Spallation Source (ESS) is a multilateral and multidisciplinary research facility based on the world's most powerful neutron source. ESS is a European Research Infrastructure Consortium (ERIC) with Sweden and Denmark as host countries and a total of 13 member countries. The research facility itself is being built in Lund and its data center (Data Management and Software Centre) in Copenhagen.

At the facility, researchers will be able to use neutrons to study materials and in the long run gain knowledge that can be used to develop new materials in, among other things, aerospace technology, engines, plastics, energy, telecommunications, transport, information technology, life science and biotechnology.

The construction and operations of the ESS are divided into three overlapping phases: 1) construction, 2) initial operation, which includes instrumentation, installation, and commissioning, and 3) steady state operations. Operations are scheduled to start in 2025.

“Together with the synchrotron light laboratory MAX IV in Lund, ESS will be one of the largest clusters in materials research in Europe. The facility will be used annually by up to 5,000 researchers and has the opportunity for industrial applications. It contributes to cooperation and knowledge management at the multidisciplinary level within the region”, says André Küüsvek, President and CEO of NIB.

The ESS is financed by contributions from its thirteen member countries. The financing is bridging the project costs with the contributions from the member states.

In 2016, NIB signed a EUR 100 million bridge loan for the construction phase. In 2018, NIB signed a loan of EUR 30 million for the construction of the ESS Campus through a loan to SKR Spallation AB.

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, +358 10 618 0244, tore.emanuelsson@nib.int

Mr Arild Moen, Communications Manager, +358 10 618 0496, arild.moen@nib.int