"Promateris announces the completion of the Green Energy project for the manufacture of bio-based packaging. The project was carried out with the help of a grant from the EEA & Norway Grants and consisted of the installation of a photovoltaic system at the company's factory in Buftea, Ilfov County, which will contribute to the transition to green energy of Promateris by replacing the use of energy based on fossil fuels with solar energy. The value of the investment amounts to approximately €1 million, of which €597,000 represent non-reimbursable Norwegian funds", according to a press release from the group.

Through the implementation of this project, an amount of approximately 1.2 million kWh of traditional energy will be replaced annually with green energy and carbon emissions will be reduced by 570,000 kg/year.

"In 2019, we started an extensive process of decarbonizing our activity by developing a new generation of biodegradable and compostable packaging, followed by the complete elimination of technological waste from production as well as the local integration of raw material production. We are very satisfied with the fact that, with the start-up of this photovoltaic plant, we will be able to produce packaging that has the lowest carbon footprint in Central and Eastern Europe", said Tudor Georgescu, CEO of Promateris.

The photovoltaic system has an installed capacity of 1 mwp. The green energy obtained will be used in the production of bio-based and compostable packaging and represents approximately 19% of Promateris' energy needs.

This is Promateris' third project with Norwegian funds.

In June 2021, the company completed the first project developed with such funds - "Green Europe - Efficient technologies for the manufacture of innovative and ecological products". The project had a value of €2.6 million, of which the value of the grant was €950,000, and aimed at the development of innovative products, made of bio-plastic, based on corn starch.

The second project developed by the company with Norwegian grants was "Decarbonization of the local economy by making bio-based products". The total investment amounted to €1.6 million, of which the value of the grant was €744,000. The project will be completed in October 2023 and aims at the production by Promateris of the biodegradable and compostable raw material based on corn starch in the factory in Buftea. Following the completion of this project, Promateris will become the first company in Eastern Europe to produce raw materials based on corn starch.