Lenzing AG, an Austria-based cellulosic fiber producerâ€™s R&D projects and investment for the production of new TENCEL fiber products is co-financed by European Investment Bank (EIB) for which they have received a 100 million-euro loan from EIB. Lenzing, which specialises in the industrial manufacture of cellulose fibres, is implementing a multi-annual development programme for new, high-quality TENCELÂ® product. It will build and bring new research facilities and pilot plants on-line and implement innovations in production processes, primarily at its Tencel site in Austria.
The loan, dubbed a Risk-Sharing Finance Facility, is jointly financed by EIB â€” the European Unionâ€™s long-term lending bank â€” and the European Commission, and is targeted to private enterprises and public institutions that are conducting R&D, demonstration and innovation projects. Such loans in 2013 totaled 16.5 billion euros.
The loan contract was signed by the EIB and Lenzing CEO Peter Untersperger. At the contract siging Lenzingâ€™s CEO commented that Lenzing is already operating three pilot plants in Europe for Tencel development. They still see considerable potential for growth in the future which must be explored now, as the demand for high-quality fibres manufactured in environmentally compatible processes will continue to increase.
Tencel, a regenerated cellulosic fiber derived from wood and produced using a closed-loop, eco-friendly lyocell process, is used as a traditional textile fiber as well as for nonwoven and technical applications. Properties include high wet and dry modulus, softness and high moisture absorption capacity.
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