- BNP Paribas acted as sole sustainability co-ordinator and sole arranger on an inaugural Green Loan for Olatein, a Joint Venture between DSM, a global science-based company in Nutrition, Health and Sustainable Living and Avril.
- The bilateral Green Loan facility include a dedicated Green Loan framework which defines use of proceeds. Financing will support Olatein in the development of a production plant that will manufacture CanolaPRO® a non
- GMO high quality plant-based protein isolate extracted from canola/rapeseed meal. CanolaPRO® will be used in a variety of food products enhancing vegan
and vegetarian products such as meat and dairy alternatives, beverages, baked products, bars, and ready-to-mix drinks for sport nutrition.
- A second Green Loan supports the construction of a waste water treatment plant that will clean the wastewater of the manufacturing process and contribute to the production of biogas. The biogas facility will contribute to supplying the local energy network and minimize the environmental footprint of production. The total quantity of biogas energy produced will equate to heating about 500 homes on a yearly basis.
- The transaction adheres to the Green Loan Principles.
Bruné Singh, Head of Group Treasury DSM: “As purpose-led company, DSM is deeply committed to sustainability. It is a core value, a key responsibility, and an important business growth driver for us. We provide products and solutions that help to enhance the health of people and planet through sustainably produced food. Therefore, I am pleased that together with partners we’ve been able to conclude these innovative Green Loan financing arrangements in support of our Olatein joint venture. It underscores the importance of sustainability in everything we do, and that includes corporate finance.”
“In line with its purpose – Serving the Earth -Avril is committed to ensuring that by 2030, 100% of its investments, whether industrial or financial, are based on economic, environmental and social criteria.” says Aymeric Mongeaud, Chief Financial and Administrative Officer, Avril. “The financing of the Olatein and
Circulargaz projects through Green Loans is a first concrete step in this commitment; we are proud that the positive impact of these two projects on the environment has made it possible to set up this financing.”
Cecile Moitry, Co-head, sustainable finance markets at BNP Paribas said “these green loan transactions for Olatein demonstrate how sustainable finance can accelerate the circular economy, sustainable consumption, and support innovation in the transition to a low carbon economy”.
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