Loan Agreement
The European Investment Bank (EIB) and The Navigator Company have signed a €40 million loan agreement, marking the first tranche of an approved €80 million loan. This funding aims to accelerate Navigator's decarbonization efforts.
Investment Focus
The investments will target the implementation of low-carbon production technologies and innovative products at Navigator's pulp, paper, and packaging facilities in Portugal. Key upgrades include renewable energy use, energy efficiency measures, and the conversion of limekilns to biomass.
Innovative Packaging
Navigator plans to develop a pioneering plant in Aveiro to produce moulded fibre packaging using eucalyptus pulp. This initiative aims to replace fossil-based plastic packaging, reducing greenhouse gas emissions and enhancing energy efficiency.
EU Initiatives
The project supports the EIB's TechEU initiative, which seeks to mobilize €250 billion in investments by 2027 for startups and innovative companies across Europe. It also aligns with the REPowerEU plan to reduce the EU's dependence on fossil fuel imports.
