Promateris announces being awarded the Electric Up grant, of EUR 100.000. This is the first step in the transition to the switch to using renewable energy in the production process.
Promateris,the Romanian industrial group and market leader in Central and Eastern Europein the production of biodegradable and compostable packaging, announces being awarded the Electric Up grant, of EUR 100.000. This is the first step in Promateris' transition to the switch to using renewable energy in the production process. The company aims that in the next 5 years more than 30% of the total energy used will be produced from alternative sources.
Our ambition is to develop projects that will enable us to reduce our carbon footprint, both at company and product level. Thus, using green energy in the production process allows us to further reduce our products' carbon footprint.Therefore, we have set ambitious targets and we are working on several projects for the development of photovoltaic installations. In addition to the undeniable environmental benefits and contribution to the decarbonization of the Romanian industrial sector, these projects allow us to continue the company's development and generate a positive impact on the local economy, said Tudor Georgescu, Promateris CEO.
The transition to green energy is part of the Promateris' decarbonization strategy, a journey that has begun in 2018. In recent years, the company has reduced polyethylene production by more than 90% and has invested in the production of bio-based and compostable packaging. In 2020, the company has installed a waste recycling line, which recycled 1,131 tons of technological waste in the first year after installation. Therefore, starting 2021, Promateris recycles 100% of theindustrial waste it generates. Moreover, Promateris has an ongoing project for the development and local production of raw materials made of corn starch, used in the production of compostable packaging. Corn starch products have a lower environmental impact compared to plastic packaging. Once the project is implemented, Promateris will become the first company in Eastern Europe to produce raw materials based on corn starch.
Promateris will continue the development of its decarbonization strategy, aiming to become an example of good practices for the Romanian industry, laying the foundations of some ambitious projects while respecting the circular economy principles. Promateris' business model manages to demonstrate that respecting the directions set by the European Green Deal, Romanian companies can develop at an accelerated pace, taking into account both economic and environmental considerations.
Promateris consolidates its growth and reports a turnover of EUR 27.7 MIL in the first nine months of the year, with a slight upward trend compared to the same period of the previous year.
Promateris announces a shareholder change and welcomes among its shareholders - Pavăl Holding, the most representative investment vehicle on the local market.