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Finance

Evonik secures European R&D loan for eco products

by Alex Scott
March 25, 2024 | A version of this story appeared in Volume 102, Issue 9
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Evonik Industries has secured a loan of 500 million euros ($545 million) from the European Investment Bank to fund R&D for sustainable products. The German chemical maker says that sustainable products already make up 43% of its sales and that it plans to increase that share to 50% by 2030. Evonik products that it says are sustainable include biosurfactants, lipid nanoparticles, and membranes for gas filtration. The loan is valid for 6 years from the date of first use. Evonik’s total R&D spending last year was $489 million.

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