The EIB supports a Spanish company CEPSA to improve its environmental impact.February 5, 2020
Hat: The EIB supports a Spanish company CEPSA to improve its environmental impact.
Funding Scheme: 2020-02-05
Pgm2014 2020: Yes
The European Investment Bank will finance CEPSA’s efforts to reduce its environmental impact. This will be done by financing a globally pioneering R&D project which will increase the sustainability of its petrochemicals operations.
To this end, the EU bank has granted a €60 million Investment Plan for Europe loan to the company on favourable terms. The agreement was signed in Madrid by EIB Vice-President Emma Navarro and CEPSA CEO Philippe Boisseau.
The EIB-financed investment will be used to install the Detal system, a state-of-the-art technology created by CEPSA and specialised technology company UOP (Universal Oil Products) to produce linear alkylbenzene (LAB), the most commonly used raw material for the production of biodegradable detergents internationally. This technology improves the efficiency of the manufacturing process and cuts CO2 emissions and water and electricity use. It also optimises the production process as it both reduces waste and enables much of it to be reused. Lastly, this technology delivers major safety improvements.
The EIB will monitor the implementation of this project, which CEPSA plans to complete in mid-2020, as part of its goal to move towards a more efficient and sustainable productive model.
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