European Investment Bank funds project by WEPA and Honext Material

The European Investment Bank funds a joint initiative by WEPA and the Spanish company Honext Material: together, the family businesses aim to produce and distribute high-quality, circular fibreboards designed particularly for use in the construction and interior design sectors. The fibreboards combine high strength, low weight and very good acoustic properties, opening up a wide range of applications in sustainable building and interior design concepts. They are made of processed recycled fibres and supplementary fibre materials and can be fully returned into the material cycle at the end of their life.

The construction of the production plant for circular fibreboards from 100% recycled materials is being funded, among others, by the European Investment Bank, a clear indication of the project’s innovative force as well as its significance for Europe. The agreement with the bank sets out a clear roadmap for the plant’s further implementation. The team is eager to fulfil the remaining condition precedents to accelerate this unique use case and example of how the circular economy can be vital for businesses and the society.

Martin Krengel, CEO of the WEPA Group, stated: “Our joint effort to manufacture circular fibreboards is unique on many levels: not only are two family businesses working together here – we see this as a beacon of the circular economy in Europe. We are delighted that the European Investment Bank is supporting this special project.”

Nicola Beer, Vice-President of the European Investment Bank, explained: “By financing this project, the European Investment Bank is backing a cutting-edge industrial partnership between two family owned firms, a German manufacturing company and a Spanish cleantech startup to turn fibre materials into high-performance circular boards, helping to decarbonise Europe’s construction and housing sectors, and bringing construction costs down, while strengthening our industrial base and strategic autonomy.”