Neste (Helsinki, Finland) has signed a €500-million ($535 million) green term loan agreement. The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s green finance framework. The loan has a tenor of three years with two one-year extension options. Danske Bank A/S and OP Corporate Bank acted as coordinating mandated lead arrangers and bookrunners of the loan.
Neste established the green finance framework in 2021 to further integrate the company’s sustainability ambitions into its financing. Neste says that the framework is designed to support financing of investments into the development, operations, maintenance, and expansion of its “renewable and circular solutions to mitigate climate change globally by reducing greenhouse gas emissions.”
Neste in April this year completed an agreement process with the European Commission related to a recent decision by the EU Innovation Fund to grant €88 million to Neste for a proposed clean hydrogen project at the company’s Porvoo oil refinery in Finland.
By Kartik Kohli
Source: chemweek.com
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
