23 November 2012 16:23 [Source: ICIS news]
LONDON (ICIS)--UK chemicals company Johnson Matthey is to receive a £100m (€123m, $159m) loan from the European Investment Bank (EIB) to support research and development into reducing harmful emissions from transport and industry, the development organisation said on Friday.
The loan is to support Johnson Matthey’s research into reducing vehicle emissions and developing catalyst technologies to meet the stricter pollution standards expected to come into force over the next few years, according to the EIB. The loan agreement was signed in London, UK.
“Improving technology to reduce pollution is a key to improving air quality and fighting climate change. The European Investment Bank recognises the essential role of specialist emission research and development techniques to reduce harmful emissions from both vehicles and industry,” said EIB vice president Simon Brooks.
The loan will be invested in work being carried out at the company’s Sonning Common, Berkshire, and Billingham, Teeside, research and development centres in the UK, and will focus on process catalysts, fuel cells, emission control catalysts and low carbon technology, the company said.
According to Johnson Matthey, the loan represents the third time that the EIB has agreed to provide financing for its research and development activities.(€1 = £0.81, $1 = £0.63)
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