EU finance ministers welcome EIB Group’s scaled up climate action

LUXEMBOURG, 17 June 2022: European finance ministers today welcomed the European Investment Bank’s unprecedented backing for business investment to support recovery from the COVID-19 crisis, record climate action and enhanced development engagement around the world through EIB Global.

At the Annual Meeting of the EIB Board of Governors, taking place in Luxembourg, EIB President Werner Hoyer confirmed details of the EIB Group’s record EUR 95 billion financing last year, including an unprecedented response to mitigate the impact of the COVID-19 crisis.

Hoyer also confirmed the EIB’s largest ever support for climate action and environmental sustainability and the successful launch of EIB Global to strengthen development finance outside Europe.

Hoyer said: “I am grateful to the EU Bank’s Governors for their support and endorsement of the EIB Group’s work over the past year. Today’s discussion confirmed the importance of our work in support of EU policies around the world. The EIB Group has been part of the European Union’s response to every crisis over the last decade, from climate to energy security, the financial crisis, the COVID pandemic and, most recently, Russia’s brutal invasion of Ukraine. The commitment and professionalism of EIB and EIF colleagues will continue to assist us as we tackle the challenges ahead. These are all connected: War in Ukraine is the strongest argument in favour of accelerating investment in green energy, to make Europe less dependent from imported fossil fuels. Global partnerships are key to winning the fight against global heating. And the Governors’ support has been crucial in setting up EIB Global, our development and partnership arm, working with other institutions in a genuine and effective “Team Europe” spirit. And last but not least, the EIB’s strong investment in innovation will help ensure we develop new tools capable of resolving the problems created by yesterday’s technology.

“I wish to thank Minister Annika Saarikko for her deft and sure-handed year at the helm of our Board of Governors, and it is a huge pleasure to welcome our new Chairman, Minister Mikael Damberg.”

The European Investment Bank Board of Governors comprises the 27 European Union finance and economy ministers and was chaired by Saarikko, Minister for Finance of Finland.

During the meeting, Damberg, Minister for Finance of Sweden, was formally confirmed as new Chair of the EIB Board of Governors, thereby replacing Saarikko, Minister for Finance of Finland. Damberg said: “As new Chair of the EIB Board of Governors I look forward to working with fellow EU finance and economy ministers to further enhance the impact of the European Investment Bank Group’s unique financial experience and technical skills to better support priority investment challenges, including scaling up climate action, accelerating innovation and enhancing sustainable development.”

Last year, EUR 27.6 billion of EIB financing supported climate action and environmental sustainability, representing 51% of EIB business. Hoyer confirmed that the EIB is currently scaling up support for climate action in developing countries most vulnerable to a changing and more extreme climate. During today’s meeting, Hoyer highlighted how the successful launch of the EIB’s new dedicated development branch, EIB Global, earlier this year, was enhancing the impact of renewable energy, clean transport, water, health, food security and business investment in the Balkans, Africa, Asia, Latin America and the Pacific.

The Luxembourg based European Investment Bank is the world’s largest international public bank.

UNIDO, European Investment Bank sign climate change joint declaration

LUXEMBOURG, 23 March 2022: Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO), and Werner Hoyer, President of the European Investment Bank (EIB), signed a Joint Declaration to enhance cooperation, related to investment operations in the field of private sector development, with a particular focus on inclusive and sustainable industrialisation, and innovation and resilient infrastructure.

Making the announcement through a Press release EIB said joint areas of cooperation include circular economy, notably through the switch to Circular Economy Value Chains programme; clean energy and climate change action; small and medium enterprise development; access to finance and investment support; pharmaceutical and vaccine manufacturing; sustainable transport and e-mobility; and digitalisation and the fourth industrial revolution.

Müller told Hoyer: “We have a long-standing and excellent personal and professional relationship. I am very glad to strengthen the partnership between our two organizations to provide innovative and concrete solutions for a global recovery from the COVID-19 pandemic and a green energy transition. Together, we can build bridges between developing countries, emerging markets and European partner countries and foster global solidarity. This is urgently needed.”

Hoyer said: “Multilateral cooperation is vital to leverage private investment and make economies across the world resilient and sustainable. I am delighted to renew our collaboration with UNIDO, who is a key partner to promote an inclusive green transition globally. Via EIB Global, our new branch for international development and partnerships, we will join forces to reduce poverty and enhance investment in sustainable infrastructure. I look forward to continuing our long and fruitful cooperation in your new role as Director General of UNIDO.”

According to EIB, the two institutions intend to explore cooperation opportunities, especially in Africa, in the countries of UNIDO’s Programme for Country Partnership (PCP), as well as in the context of the Africa, Caribbean and Pacific (ACP) countries, where the EIB is particularly active. Other possible geographical areas could include Eastern Europe and the Mediterranean, Central Asia, Asia and Latin America, where both institutions already operate.

EIB said UNIDO and the EIB also agreed to develop and implement crisis- and fast-response operations when needed, such as COVID-19 support initiatives or activities to ensure resilient industrial production and sustainable economic growth.

Epta: ‘Possible to replace HCFC, HFC refrigerants with transcritical CO2 anywhere in the world’

MILAN, Italy, 29 June 2021: Increasingly stringent international regulations are driving a massive transformation in the world of commercial refrigeration – at a European level with the F-gas Regulation and internationally with the Kigali Amendment, commercial refrigeration manufacturer, Epta said through a Press release.

The company said it has already achieved important milestones in the technological development of HFC-free solutions. It added that its Life-C4R (Carbon 4 Retail) Refrigeration project, co-financed by the European Union, confirms the benefits of a natural approach.

Francesco Mastrapasqua, the company’s Institutional Affairs Manager, said: “The three-year Life-C4R – Carbon 4 Retail Refrigeration project was created to sensitise the scientific community, the component suppliers and the retail world’s key players in the use of increasingly efficient solutions. One of the goals is demonstrating how HCFC and HFC refrigerants can be completely replaced with transcritical CO₂, anywhere in the world.”

The patented FTE 2.0 Full Transcritical Efficiency and ETE Extreme Temperature Efficiency systems, Epta said, are recognised by the EU as simple and efficient systems and are at the very core of the Life-C4R. “The Life-C4R Plan is essential in validating the FTE and ETE performance in all climatic conditions, in promoting their international diffusion and in certifying both as global and reliable solutions for the future of commercial CO₂ refrigeration,” Mastrapasqua said. “The data analysis of the three Italian pilot projects and four replica prototypes in Romania and Spain, installed in collaboration with Epta Iberia and DAAS, will be presented during the Life-C4R Project digital conference, scheduled for July 1.”

The event will be an opportunity to gain in-depth knowledge on the plan’s innovations, lessons learnt and the advantages of the FTE 2.0 and ETE technologies, using the results collected in store by retailers, Epta said, adding that those interested in attending the conference could do so by registering at https://blog.eptarefrigeration.com/en/life-c4r.

FTE 2.0, Epta said, represents the evolution of its patented FTE Full Transcritical Efficiency system. It is recommended at any temperature and is, therefore, a must for obtaining maximum efficiency above 37 degrees C, it said. Simple, efficient, reliable and industrialised, FTE uses flooded evaporators, it said. They allow for the difference between the evaporation temperature and the cabinet’s internal temperature to be significantly reduced and, therefore, for an energy consumption 10% lower than a traditional CO₂ system, it claimed.

This is a simple solution, the company said, where it has mechanically added only a multilevel liquid receiver to the standard configuration. On the one hand, FTE reduces the compressors’ discharge temperature, allowing for smooth functioning at high temperatures, it said. On the other hand, it guarantees their perfect lubrication, favouring a longer life cycle of the component itself, it said. FTE also guarantees up to 20% lower installation and maintenance costs, it added. Finally, the FTE 2.0 version, which is integrated into the rack, takes up less space and reduces installation and start-up times, it further added.

The ETE, Epta said, allows for 100% cooling capacity to be reached even in the hottest climates, both in industrial and commercial refrigeration applications. Recommended at temperatures between 30 degrees C and 40 degrees C, it guarantees maximum savings over 40 degrees C, also in combination with FTE, the company claimed. In this case, the transcritical CO₂ system is guaranteed to work perfectly at any latitude, even on non-booster systems and in industrial refrigeration, it said. ETE’s “secret” is contained in the refrigerant temperatures’ reduction before its distribution to end users, it said. As it leaves the air exchanger at a value close to the ambient temperature, the gas is further cooled, it said. The system, it added, allows for an almost total disappearance of “flash-gas”, creating significant energy savings over time and smooth functioning even well above 40 degrees C.

Eurovent PG-CT elects new Vice-Chairman

BRUSSELS, Belgium, 31 March 2021: The Eurovent Product Group, ‘Evaporative Cooling Equipment’ (PG-CT) elected Frank Stocker, Managing Director, Gohl-KTK, as the successor of Doic Hordern, CEO, JACIR, in the role of Vice-Chairman of the group. Making the announcement through a Press release, Eurovent added that Laurent Petiot, General Manager France Benelux Maghreb, B1AC, continues as Chairman of PG-CT.

The Product Group, ‘Evaporative Cooling Equipment’ recently met in a fruitful online session, Eurovent said. The meeting included Chairman and Vice-Chairman elections, as well as redefinition of the group’s scope to include all hybrid and adiabatic technologies, it added. PG-CT is turning its attention to the review of Ecodesign Regulation for professional refrigeration (ENTR Lot 1), in which new efficiency requirements are being considered for process chillers connected to an evaporative condenser, it further added.

Stocker said: “With the review of the Ecodesign Regulation for professional refrigeration around the corner, we are facing a great opportunity to promote the energy saving potential of evaporative cooling technologies. By making the Eurovent voice heard in the review, we can support the EU to achieve its climate targets.”

Petiot added: “The European industry faces important challenges, regulations are getting stringent and Eurovent is instrumental in supporting the manufacturers. Our Product Group pledges to closely monitor the review process to ensure the highest energy efficiency requirements for Europe.”

According to Eurovent, PG-CT unites manufacturers of evaporative and adiabatic cooling equipment from around Europe and is supported by Eurovent Member Associations on a national level. Its main tasks consist of advocating on European level, developing Eurovent Recommendations, generally promoting the industry and export initiatives, and diminishing unfair trade barriers inside and outside Europe, it said. Manufacturers interested in joining PG-CT, it added, can get in touch with the Eurovent Secretariat via secretariat@eurovent.eu.