NIEUW BERGEN, 23th July 2021
Limburgs Energie Fonds (LEF) and the N+P Group (N+P) have reached and executed an agreement for the financing of the new Subcoal® Production facility in Farmsum, the Netherlands.
Having successfully worked together in the past, LEF and N+P started negotiations for the construction of the new production line early 2020. Both parties are pleased and proud that a new agreement was reached, even when facing the challenging times of the COVID-19 pandemic.
The total investment in the Farmsum location is approx. 14.25 million Euro, of which 10.25 million is provided via LEF. Once commissioned, the facility will process approx. 170.000 ton of non-recyclable waste into high quality alternative fuels which will save over 110.000 ton of CO2 emissions per annum. Furthermore, the investment ensures a new impulse for the production location, securing over 40 FTE’s for the coming decade.
David Driessen, N+P’s managing director Europe comments: „The deal with LEF has made the construction of our new production facility possible. Due to the COVID-19 pandemic it wasn’t easy to discuss and negotiate with all parties involved. However, we managed to finalize and execute the agreement, and directly started the construction of our brand new facility. I am really proud that thanks to our joint efforts, we can look forward to commission the facility at the end of this year.”
The Farmsum location has historically seen been important as it is the first location were Subcoal® pellets were produced since 2012. N+P is happy that the location will be renewed and continued. At the location, non-recyclable waste fractions (from both domestic as international sources) will be processed into an alternative fuel. This alternative fuel is utilized at production processes to substitute and thus reduce fossil fuel consumption, which in return reduces massive CO2 emission. More about bridging waste to value can be found here. In addition to the Farmsum location, N+P is actively developing a number of new production sites throughout Europe, with the goal to utilize non-recyclable waste and turn it into a high quality alternative which allows industries to speed up their decarbonizing process.
Jan-Willem König, Executive LEF: „We are pleased to see that the loan for the production facility in Farmsum, opens doors for N+P to be different and show how waste material can be used as high quality alternatives for fossil fuels all over the world.”
This project receives subsidy from Topsector Energy subsidies from the Dutch Office of Economic affairs.
About Limburgs Energie Fonds
Limburg Energie Fund (LEF) is a fund of approximately €270 million established by the Province of Limburg, and financed by the Province of Limburg, the European Investment Bank and the European Fund for Strategic Investments (EFSI). The fund supports promising projects in or related to Limburg, active in energy conservation, sustainable energy generation, energy transition, asbestos remediation and the circular economy. LEF is a profitable revolving fund and provides project loans (senior or subordinated), preference participations or guarantee capital, but no subsidy: with the same amount of money, more sustainable projects can be realized. More information can be found at www.limburgsenergiefonds.nl
Dutch based N+P is a pioneer in the development of concepts to utilize non-recyclable waste streams as alternative fuels or alternative raw materials. N+P’s developments are heavily focused around bridging waste to value, reducing the necessity to landfill materials but upgrading them into high quality alternatives for fossil based commodities. N+P have multiple offices and production locations in Europe, with a turnover of approx. 145 million per annum. More information about N+P can be founded here.