NextChem receives major loan to support energy-transition R&D, technological innovation

Maire announced Jan. 2 that NextChem S.p.A. has signed a new 125-million-euro (USD$129 million) loan agreement, 70 percent backed by SACE S.p.A.’s “Garanzia Archimede,” strengthening its funding power to support investments in technological innovation and R&D.

SACE is Italy’s export credit agency, and insurance and finance group controlled directly by Italy’s ministry of the economy and finance.

Garanzia Archimede is a tool introduced by the 2024 budget law to support new investments by Italian companies.

The credit facility will have a maturity of seven years, including a two-year grace period.

It will bear a variable interest rate based on the three-month Euribor plus a 1.6 percent margin, in addition to the cost of SACE’s guarantee, and may be repaid in full or in part at any time without penalties.

In accordance with the Garanzia Archimede, the financing will primarily support strategic investments, including M&A, technological innovation, digitalization, ecological transition, and R&D projects of NextChem, the Italian company leading the sustainable technology solutions business unit, and its subsidiaries.

The financing will be provided by a pool of major Italian financial institutions including Banca Monte dei Paschi di Siena, Banco BPM, BNL BNP Paribas, Cassa Depositi e Prestiti, and Intesa Sanpaolo (the IMI corporate and investment banking division).

Intesa Sanpaolo will also act as the SACE agent, global coordinator, sustainability coordinator and facility agent.

“With this new financing, NextChem is in an even stronger position to face the challenges of energy transition and sustainability,” said Fabio Fritelli, NextChem’s managing director.

“The support of Garanzia Archimede allows us to accelerate our investments in technological innovation and R&D, strengthening our leadership in the sustainable-solutions sector,” Fritelli added. “We are eager to continue delivering cutting-edge technologies that will drive the future of the green industry.”