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.