Elemental Group has secured 252 million euros in funding for further development
A consortium of banks has granted the Elemental Group financing totaling 252 million euros and a guarantee line of up to 27 million dollars. The funds will be used for refinancing and further development of the Group.
The credit consortium for The Elemental Group includes such renowned banks as: ING Bank Śląski S.A. (the bank will act as a Consortium Agent, Security Agent and ESG Coordinator), Bank Gospodarstwa Krajowego, Bank Handlowy, HSBC Continental Europe Branch In Poland, HSBC Continental Europe, and Santander Bank Polska. The loan was granted with the support of KUKE – export credit insurance agency, providing guarantees up to the total amount of 500 million PLN.
– Securing such significant funds we perceive as a sign of confidence from the Polish and international financial world in the Elemental Group and a confirmation that our chosen business path is the road to success – summarizes Adam Kłapszta, CFO of Elemental Group.
Over recent years, the Elemental Group has become a global leader in urban mining, recouping platinum group metals from car catalysts, and resources from batteries used in electromobility. Through a consistent acquisition policy, the Group is consolidating the market in its areas of interest worldwide. At the turn of the year, it announced plans to build a modern plant for processing electronic waste in Romania, and in February – the establishment of a company in India. Last year in June, the Group launched a complex in Zawiercie, extracting strategic metals in the refining process from used catalysts, and state-of-the-art facility for recycling lithium-ion batteries. Elemental plans next projects, which will strengthen its position in urban mining and help vertically and horizontally integrate the Group’s potential.
– The obtained resources will enable us to strengthen our position as one of the global leaders in the urban mining market and a producer of strategic metals. Thus, we can contribute even more to the material independence of the European Union and consolidate the key role of our country in the circular economy – comments Paweł Jarski, founder and CEO of Elemental Group.
The transaction was prepared from the legal side on behalf of the banks by law firms: Clifford Chance, Janicka, Krużewski, Stosio and Partners sp.k.: Mec. Andrzej Stosio and Mec. Mateusz Chruściak with the team, and on behalf of the Elemental Group: GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k.: Mec. Andrzej Wysokiński and Mec. Mateusz Koronkiewicz with the team.
