Latest news with #AmbroiseFayolle
TimesLIVE
10-06-2025
- Business
- TimesLIVE
Development banks to invest at least R60bn by 2030 in ocean plastics fight
A group of development banks plans to invest at least €3bn (R60.71bn) by the end of the decade in tackling plastic pollution in the sea, expanding the scope and financial firepower of what remains the world's biggest effort to fix the growing problem. The UN estimates that on current trends, plastic waste entering the water could triple to up to 37-million metric tons per year by 2040, from around 11-million tons in 2021. Of particular concern is the growth in microplastics, which have contaminated all the major oceans, as well as the soil and air, finding their way into animals, plants and humans. Launching the second iteration of the Clean Oceans Initiative as a UN conference kicks off in Nice, France, the European Investment Bank's (EIB) project lead, Stefanie Lindenberg, said the amount could rise further as other partners join. Also including French, German, Spanish and Italian lenders and the European Bank for Reconstruction and Development, the original initiative deployed €4bn (R80.95bn) of pledged investments between 2018 and May 2025, ahead of a year-end target, said EIB vice-president Ambroise Fayolle.
Japan Times
10-06-2025
- Business
- Japan Times
Development banks to invest €3 billion in ocean plastics fight
A group of development banks plans to invest at least €3 billion ($3.4 billion) by the end of the decade in tackling plastic pollution in the sea, expanding the scope and financial firepower of what remains the world's biggest effort to fix the growing problem. The U.N. estimates that, on current trends, plastic waste entering the water could triple to up to 37 million metric tons per year by 2040, from around 11 million tons in 2021. Of particular concern is the growth in microplastics, which have contaminated all the major oceans, as well as the soil and air, finding their way into animals, plants and humans. Launching the second iteration of the Clean Oceans Initiative (COI) as a U.N. conference kicks off in Nice, France, the European Investment Bank's project lead, Stefanie Lindenberg, said the amount could rise further as other partners join. Also including French, German, Spanish and Italian lenders and the European Bank for Reconstruction and Development, the original initiative deployed €4 billion of pledged investments between 2018 and May 2025, ahead of a year-end target, said EIB Vice President Ambroise Fayolle. With a focus on better managing solid waste, wastewater and stormwater, projects in the initial phase included improving wastewater treatment in Sri Lanka, solid waste management in Togo and flood protection in Benin. While that will remain a focus for the next phase of investment, the project will expand to target upstream sources of waste, for example by helping develop new forms of packaging and ensuring more waste is recycled. "We see that there is a role for us," Lindenberg said. "To reduce the amount of virgin plastic that is needed or, at least, can be kept in the system." The bank could help lower the risk of developing new technologies, types of packaging and products, for example, by providing cheaper funding, grants or investment into third-party funds, she said. As well as helping build out a pipeline of investable projects, the program would look to work closely with development banks in other regions, particularly those operating in Asia and Latin America, both leading sources of ocean waste. Alongside the Asian Development Bank, which has already joined the second phase and is expected to provide strong local knowledge and contacts, talks are ongoing with the World Bank and Inter-American Development Bank, she said. Countries will convene in August to try and hammer out a deal to curb plastic pollution, after they failed to agree to one during December talks in Busan, South Korea. This article originally appeared in The New York Times © 2025 The New York Times Company
Express Tribune
09-06-2025
- Business
- Express Tribune
Development banks pledge €3b to fight ocean plastic by 2030
The UN estimates that, on current trends, plastic waste entering the water could triple to up to 37 million metric tons per year by 2040. PHOTO: OCEAN ALLIANCE Listen to article A group of development banks plans to invest at least 3 billion euros ($3.4 billion) by the end of the decade in tackling plastic pollution in the sea, expanding the scope and financial firepower of what remains the world's biggest effort to fix the growing problem. The UN estimates that, on current trends, plastic waste entering the water could triple to up to 37 million metric tons per year by 2040, from around 11 million tons in 2021. Of particular concern is the growth in microplastics, which have contaminated all the major oceans, as well as the soil and air, finding their way into animals, plants and humans. Launching the second iteration of the Clean Oceans Initiative (COI) as a UN conference kicks off in Nice, France, the European Investment Bank's project lead, Stefanie Lindenberg, said the amount could rise further as other partners join. Also including French, German, Spanish and Italian lenders and the European Bank for Reconstruction and Development, the original initiative deployed 4 billion euros of pledged investments between 2018 and May 2025, ahead of a year-end target, said EIB Vice President Ambroise Fayolle. With a focus on better managing solid waste, wastewater and stormwater, projects in the initial phase included improving wastewater treatment in Sri Lanka, solid waste management in Togo and flood protection in Benin. While that will remain a focus for the next phase of investment, the project will expand to target upstream sources of waste, for example by helping develop new forms of packaging and ensuring more waste is recycled. "We see that there is a role for us," Lindenberg said. "To reduce the amount of virgin plastic that is needed or, at least, can be kept in the system." The bank could help lower the risk of developing new technologies, types of packaging and products, for example by providing cheaper funding, grants or investment into third-party funds, she said. As well as helping build out a pipeline of investable projects, the programme would look to work closely with development banks in other regions, particularly those operating in Asia and Latin America, both leading sources of ocean waste. Alongside the Asian Development Bank, which has already joined the second phase and is expected to provide strong local knowledge and contacts, talks are ongoing with the World Bank and Inter-American Development Bank, she said. Countries will convene in August to try and hammer out a deal to curb plastic pollution, after they failed to agree one at December talks in Busan, South Korea.
Reuters
09-06-2025
- Business
- Reuters
Development banks to invest 3 billion euros in ocean plastics fight
LONDON, June 9 (Reuters) - A group of development banks plans to invest at least 3 billion euros ($3.4 billion) by the end of the decade in tackling plastic pollution in the sea, expanding the scope and financial firepower of what remains the world's biggest effort to fix the growing problem. The U.N. estimates that, on current trends, plastic waste entering the water could triple to up to 37 million metric tons per year by 2040, from around 11 million tons in 2021. Of particular concern is the growth in microplastics, which have contaminated all the major oceans, as well as the soil and air, finding their way into animals, plants and humans. Launching the second iteration of the Clean Oceans Initiative (COI) as a U.N. conference kicks off in Nice, France, the European Investment Bank's project lead, Stefanie Lindenberg, said the amount could rise further as other partners join. Also including French, German, Spanish and Italian lenders and the European Bank for Reconstruction and Development, the original initiative deployed 4 billion euros of pledged investments between 2018 and May 2025, ahead of a year-end target, said EIB Vice President Ambroise Fayolle. With a focus on better managing solid waste, wastewater and stormwater, projects in the initial phase included improving wastewater treatment in Sri Lanka, solid waste management in Togo and flood protection in Benin. While that will remain a focus for the next phase of investment, the project will expand to target upstream sources of waste, for example by helping develop new forms of packaging and ensuring more waste is recycled. "We see that there is a role for us," Lindenberg said. "To reduce the amount of virgin plastic that is needed or, at least, can be kept in the system." The bank could help lower the risk of developing new technologies, types of packaging and products, for example by providing cheaper funding, grants or investment into third-party funds, she said. As well as helping build out a pipeline of investable projects, the programme would look to work closely with development banks in other regions, particularly those operating in Asia and Latin America, both leading sources of ocean waste. Alongside the Asian Development Bank, which has already joined the second phase and is expected to provide strong local knowledge and contacts, talks are ongoing with the World Bank and Inter-American Development Bank, she said. Countries will convene in August to try and hammer out a deal to curb plastic pollution, after they failed to agree one at December talks in Busan, South Korea. ($1 = 0.8754 euros)
Yahoo
27-05-2025
- Business
- Yahoo
TreeFrog Therapeutics Secures €30 Million From European Investment Bank (EIB) Marking a Significant Milestone in the Company's Journey to Accelerate the Field of Cell Therapy
€30 million financing with mix of dilutive and venture debt financing Funds to advance Parkinson's disease cell therapy program to the clinic and further develop their internal pipeline of cell therapies Deal benefits from guarantee under European Commission's Invest EU program BORDEAUX, France, May 27, 2025--(BUSINESS WIRE)--TreeFrog Therapeutics, a French biotech specializing in cell therapy has secured a €30 million financing from the European Investment Bank (EIB). The financing will support the advancement of their lead cell therapy program in Parkinson's Disease to the clinic. Funds will also be used to reinforce their internal pipeline in other disease areas with large unmet needs. Regenerative medicine holds immense potential to revolutionize healthcare to treat or cure some of the world's unmet needs in diseases of the major organs, such as the heart, lungs, pancreas and brain. Parkinson's disease is the second most common neurodegenerative disorder and the fastest growing with more than 10 million people worldwide suffering from the disease. Prevalence doubled in the last 25 years and is expected to double again before 2050. Current solutions treat symptoms only. The cell therapy in development at TreeFrog has the potential to be a best-in-class treatment due to its unique 3D format microtissues, developed from induced pluripotent cells (iPSC). The program is on track to be ready for a first-in-human trial in 2027. The €30 million financing will be available in 3 tranches of €10 million each, with TreeFrog benefiting from a new vehicle from the EIB, mixing dilutive financing, hence no principal repayment required for the initial two tranches and venture debt for the last tranche. The initial €10 million will be withdrawn during the second quarter of 2025. EIB's investment aligns with the InvestEU objective of fostering research, development and innovation. Ambroise Fayolle, vice-president of the EIB, said: "Regenerative medicine is a field that has growing importance as life expectancy rises and some diseases are still untreated. This EIB is keen to support young, dynamic European and French companies that focus on research, development and product innovation. Support from InvestEU is testimony of a wider European interest in TreeFrog's business model and new solutions for the health sector". Jaime Arango, Chief Finance Officer, TreeFrog Therapeutics, said: "We are delighted to receive this support from EIB which bolsters our cash visibility trajectory and enables us to bring our Parkinson's cell therapy to the clinic, while also reinforcing our internal pipeline of cell therapies in other disease areas." TreeFrog's success in attracting investment and partners to date is based on their proprietary technology platform, C-Stem™. This platform addresses some of the major challenges by producing high quality cells, efficiently, at commercial scale. C-Stem combines microfluidics and stem cell biology to mimic the natural environment for cells. The cells are encapsulated in alginate capsules seeded with iPSCs. These capsules protect the cells, allowing them to do what they do naturally – self-organise and grow. The protected cells are nurtured and nourished, expand exponentially and can be turned into any type of cell in large-scale bioreactors without damage and stress. This results in 3D microtissues that have unique benefits in terms of quality and functionality and integrate well after transplant. Background information About EIB The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU's long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group's annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment. About TreeFrog Therapeutics TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry - producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine. View source version on Contacts Press contactsEIB Andrea Morawski, mobile: +352 691 284 349Website: - Press Office: press@ TreeFrog Therapeutics Rachel MooneyChief Communications Tel: +33 674063461
