The EIB signs 300 million euros loan with a Swedish hygiene and health company Essity AB in support of research, development and innovation (RDI) of the latter’s products.
This funding supports RDI activities focused on product innovation for the well-being as well as the sustainability of the company’s production processes.
Essity will carry out activities related to the financing of the EIB at several of its European sites, including at Sweden, France and Germany.
Swedish global hygiene and health company Essity AB will finance its research, development and innovation (RDI) program with European support. The company signed a 300 million euros loan agreement with the European Investment Bank (BEI) today. Essity will use the funding for its RDI investments related to personal care, facial tissues and professional hygiene products.
In addition to targeting improving consumer well-being, RDI will also focus on product innovation and the sustainability of manufacturing processes. One area of interest is that of female care, where Essity searches for products that best meet the needs of women while researching and analyzing their bodily experiences and perceptions.
“We are delighted with the EIB’s support to our global innovation process focused on improving the well-being of people all over the world as we continue on our way to achieving zero net greenhouse gas emissions from here 2050 ”, declared Magnus groth, President and CEO of Essity.
EIB Vice-President Thomas Ostros said: “Gender equality and the empowerment of women and girls involve tackling a number of societal issues. This not only includes access to health and hygiene products for women and girls around the world, but also ensuring that they can participate in society without barriers. Essity takes great care in the research and design of its products. In the case of the RDI that we are supporting here, we expect that one of the long term benefits will be products that are economically accessible and environmentally friendly, giving women and girls equal opportunities in areas such as as access to education and other areas of daily life. . ‘
As part of the funded activities, Essity will continue to invest in sustainable development innovation aimed at reducing greenhouse gas emissions and contributing to a circular economy. Essity committed to zero net greenhouse gas emissions by 2050.
The company is also implementing permanent digital solutions in certain areas, leading to lower consumption of raw materials. In 2021, Essity became the first company in the tissue paper industry to use agricultural scraps for the sustainable production of tissue paper on an industrial scale. Essity is already investing heavily in the development of a paper towel recycling service in commercial / public spaces, demonstrating its commitment to a circular economy.
In 2020, the EIB achieved more than 2 billion euros available for Swedish projects. The EIB borrows money from the capital markets and lends it to projects that support EU goals, with around 90% of all loans made in the European Union.
Essity is a leading global hygiene and health company dedicated to improving well-being through its products and services. Sales are made in around 150 countries under the main global brands TENA and Tork, and other strong brands such as JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has approximately 46,000 employees. Net sales in 2020 amounted to approximately 122 billion Swedish kronor (€ 11.6 billion). The head office of the company is located at Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm. Essity breaks down barriers to well-being and contributes to a healthy, sustainable and circular society.
Project sheet (s)
+352 4379 – 89076
+352 4379 – 21000