The Nordic Investment Bank (NIB) has signed a 10-year NOK 750 million loan agreement with Elkem ASA to finance the Norway-based industrial materials company’s research and development investments during 2025–2029.
Elkem’s R&D programme focuses on process innovation, energy efficiency, emissions reduction and the development of low-carbon materials. The investments form part of the company’s long-term competitiveness and decarbonisation strategy.
Around 40% of investments have clear environmental benefits, while the remainder have less direct impact. The programme aims to improve yield, product quality and operational efficiency, and is expected to support wider knowledge spillovers through cooperation with research institutions and industrial partners.
“Decarbonisation in hard-to-abate sectors requires sustained innovation. By supporting Elkem’s R&D investments, NIB is financing technologies that can reduce emissions while strengthening industrial competitiveness, in line with our climate and nature objectives,” says Sari Cabell, Senior Banker Industry & Real Estate, NIB.
Elkem holds leading positions in silicon, ferrosilicon, foundry alloys and carbon solutions, supplying materials essential to modern society—from infrastructure and manufacturing to digitalisation, mobility and energy solutions. The company combines natural raw materials, renewable energy and advanced process technology to support more sustainable solutions. Elkem employs around 3,000 people, operates more than 20 sites across Europe, Asia, the Americas and Africa, and is headquartered in Oslo, Norway.
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
Sari Cabell, Senior Banker, +358 10 618 0519, sari.cabell@nib.int
Arild Moen, Associate Director, External Communications Leads, +358 10 618 0496, arild.moen@nib.int