NIB finances Kemira’s new biomaterials production facility in Finland

• NIB is financing Kemira with a EUR 50 million loan to build a new biomaterials production facility in Finland. The term of the loan is 10 years.
• Kemira and International Flavors & Fragrances (IFF) have joined forces to produce renewable biobased products on a commercial scale. Kemira’s role in the collaboration is to co-develop and commercialise a range of new biobased and biodegradable products across Kemira’s key product lines.

Kemira and IFF are jointly investing in a commercial-scale plant at IFF’s site in Finland to produce bio-based products, specifically alpha-glucans. The new facility builds on Kemira’s exclusive partnership with IFF, announced in 2020, to develop and commercialise biomaterials using IFF’s engineered polysaccharide platform. This technology, based on plant-derived sugars and proprietary enzymes, has advanced from pilot scale to industrial readiness and is now set for large-scale investment.

The total investment cost is approximately EUR 130 million. The project started in March 2025. Following construction and ramp-up period, commercial production is expected to start in 2 to 3 years.

André Küüsvek, NIB President and CEO, says: “By supporting the commercialisation of breakthrough biotechnology in Finland, NIB is fostering industrial development and strengthening the Nordic-Baltic region’s expertise and contribution to a more resilient economy.”

Petri Castren, CFO, Kemira, says: “This financing supports Kemira’s strategic transformation toward renewable solutions. It enables us to industrialize a new biomaterials platform and expand our offering of sustainable products across key markets. It’s a major milestone on our path towards EUR 500 million in revenue from renewable energy sources by 2030.”

Kemira Oyj is a global chemicals company serving customers in water-intensive industries. The company’s focus is on serving these industries by focusing on water treatment, renewable solutions and digital services. Kemira has been a customer of NIB since 1990.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

For further information, please contact

Kim Krokfors, Senior Banker, +358 10 618 0517, Kim.Krokfors@nib.int

Iiris Anttalainen, Communications Officer, +358 10 618 0257, Iiris.Anttalainen@nib.int