BAKU, Azerbaijan, December 20. The European Investment Bank (EIB) has announced its support for Swedish cleantech company Chromafora with a €22.5 million loan to bolster efforts in eliminating harmful pollutants known as "forever chemicals" from water, Trend reports via the EIB.
The financing will enable Chromafora to develop and deploy water-treatment units across Europe between 2024 and 2028. The focus is on removing per- and polyfluoroalkyl substances (PFAS), long-lasting pollutants linked to severe environmental and health concerns.
Provided as venture debt, the loan offers Chromafora a non-dilutive funding solution, supporting the company’s growth and paving the way for full commercialisation of its innovative technology. Founded in 2010, the company aims to bridge a critical funding gap, broaden its market reach, and attract additional investment.
This initiative aligns with the European Union’s water quality and pollution control directives, advancing goals outlined in the European Green Deal and the transition to a circular economy. The financing is supported by InvestEU, highlighting the EU’s commitment to fostering sustainable innovation and tackling pressing environmental challenges.
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