Borregaard: Prolongation of EU Horizon 2020 funding period for the Exilva project
December 13 2018 - 2:30AM
In 2016 a consortium of European companies and
research institutions, with Borregaard as a lead member, was
granted financial support from the Bio-Based Industries Joint
Undertaking for the development and commercialisation of
Borregaard's Exilva microfibrillar cellulose under the European
Union's Horizon 2020 Flagship programme. The support was given for
the three-year period 1 May 2016 - 30 April 2019. In this period,
60% of Borregaard's costs would be covered up to a maximum support
amount of 25 MEUR.
With the current run rate the granted amount will
not be fully utilised within the three-year period. The consortium
has therefore applied for a 12-months prolongation of the grant
period without increasing the total amount. The application has
been approved by the Commission, and the grant period will
therefore be prolonged until 30 April 2020.
For background information please see stock
exchange notices of 22 April and 16 March 2016.
Sarpsborg, 13.12.2018
Contact
Jørn Syvertsen, Director Investor Relations, +47 958 36
335
This information is subject
to the disclosure requirements pursuant to Section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Borregaard via Globenewswire
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