(Alliance News) - Intesa Sanpaolo Spa announced Monday that it has provided a EUR2.5 million loan to Selene Spa, a Lucca-based company that is a leader in the production of flexible plastic packaging for industrial use mostly made of polyethylene, with funding made available by the European Investment Bank.

The company, which for several years has already been committed to a path aimed at reducing the environmental impact of its production processes, has adopted a circular economy model capable of extending the life cycle of products by valorizing plastic waste, for a more integrated vision of environmentally compatible supply.

Thanks to the financing granted by Intesa Sanpaolo, Selene will further improve this process through the refinement of an innovative plant for the production of recycled polyethylene granule, which, through special deinking processes of the recovered material, will make it possible to obtain a granule of a quality comparable to that of virgin polymer.

This recycling of polyethylene materials will make it possible to drastically reduce the extraction of fossil products for the production of virgin plastic, limiting CO2 emissions. This will also enable the company to respond to the growing market demand induced by the introduction of new European regulations favoring the reuse of reclaimed plastics.

The loan provided is part of the line of solutions designed by Intesa Sanpaolo to support investments that aim to achieve climate neutrality goals or integration in a circular economy process, in line with what is expressed by the European Green Deal.

Intesa Sanpaolo's stock is up 0.1 percent at EUR2.55 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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