The inaugural Blue Loan has been inspired by the Guidelines for Blue Finance developed by the International Finance Corporation in January 2022. The guidelines were developed to address blue finance as an emerging area in climate finance where funds are earmarked for investment in ocean-friendly projects and critical clean water resource protection.
WD News: H2O Innovation has collaborated with National Bank of Canada to develop a sustainable financing solution to fund the corporation’s continued growth in water technology manufacturing and services by structuring its first Blue Loan. In addition, the Corporation increased its revolving credit facility by $10 M. The credit facility now stands at $65 M (Canadian dollars).
“The combination of population growth, aging infrastructure, regulatory frameworks driven by higher environmental standards, water scarcity, and an aging workforce drives growth for us and our industry”, said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
The Blue Loan will help H2O Innovation to evolve in water and wastewater technologies and services and to achieve its sustainability objectives, including reducing global water stresses and carbon emissions throughout their value chain.
“With the growing effects of water scarcity on households and agriculture, the company is well positioned to make a meaningful impact on communities and the economy,” added Jason Taylor, Managing Director of the Sustainability Advisory and Finance team at National Bank of Canada.
Source: H2O Innovation
Image courtesy: Pixabay
