Stevanato Group S.p.A., a global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, announced two separate agreements with BNL BNP Paribas and Cassa Depositi e Prestiti Group (CDP) to obtain ESG-linked funds to support its ongoing global expansion.

BNL BNP Paribas is participating in the financing with a contribution of €70 million, which is tied to two ESG-related objectives including increasing the company’s renewable-based energy and waste management improvements.

An additional $60 million is being financed by CDP to be allocated to new investments in technological innovation, the purchase of state-of-the-art machinery, and the modernization of a production plant in Italy, which may generate employment opportunities, according to the company.

In a statement, the company said that together, the financing agreements help solidify the company’s commitment to organic and sustainable growth.

The company’s ongoing investments in the U.S., Italy and China will expand regional production and meet rising global demand for high-performance drug containment solutions.

“In both the U.S. and Europe, we have been working alongside our customers to address their needs. With this added visibility, we see elevated demand in the coming years,” said Marco Dal Lago, chief financial officer of Stevanato Group. “The financing will help us expand much-needed capacity in the U.S., Italy, and China for our premium, high-value solutions to meet our customers’ needs, maximize organic growth, and build long-term shareholder value.”

Mariaelena Gasparroni, BNL BNP Paribas Corporate Banking Director said: “In the spirit of partnership, thanks to sustainable finance instruments such as sustainability-linked loans, we continue to support Italian industries that are landmarks of the territories in which they operate and are recognized internationally as major players in their reference sectors.”

Andrea Nuzzi, head of enterprise and financial institutions at CDP said, “We are proud to have concluded this agreement, which confirms CDP’s proximity to Italian entrepreneurship, rich in dynamic and cutting-edge companies that successfully project themselves towards pursuing ESG purposes. In this perspective, the ESG-linked financing in favor of Stevanato Group confirms CDP’s concrete commitment to promoting evolved sustainable finance instruments through initiatives characterized by high levels of additionality and innovativeness.”