ESG: EUROAPI moves forward with its carbon reduction ambition and invests to build a state-of-the-art biomass boiler in France

Construction of a new generation biomass boiler to reach a reduction of almost 76% in CO₂ emissions in 2026 of one of EUROAPI’s manufacturing sites in France, putting the Company on track to reach its 2030 CO₂ emissions reduction target.
Major investment in line with EUROAPI’s strategy towards greater energy autonomy supporting future vitamin B12 production capacity development plans.
Optimized energy production model including on-site green electricity cogeneration and recycling of residual steam fumes with a potential connection to local community heating networks.
Financial support to the amount of €10.4 million within the framework of the French government’s France Relance selection program.

Paris, July 21, 2022 – EUROAPI announces the initiation of a €24 million investment for the construction of a state-of-the-art biomass boiler at its Saint-Aubin-lès-Elbeuf (Seine-Maritime, France) site that is planned to be activated in 2025. This investment should enable EUROAPI to support the site’s vitamin B12 production capacity increase program, reduce its CO₂ emissions by almost 76% in 2026, compared to 2020 and support the Group’s strategy towards greater energy autonomy.

The design and engineering of the biomass boiler have already been finalized and the construction will start in the coming weeks. This 17 MW equipment will use waste wood (Grade B), and is expected to produce 140,000 tonnes of steam per year, enabling EUROAPI to cut its yearly fossil fuel CO₂ emissions by approximately 20,000 tonnes. It could also allow the production of green electricity by using cogeneration technology, covering 10% of the needs onsite, and supply local community heating networks.

This investment is a key milestone for EUROAPI, in line with its ambitious ESG roadmap. It confirms its target to reduce its CO₂ emissions (scopes 1 and 2) by 30% in 2030 compared to 2020. In the context of inflation and rising energy prices, this project well illustrates EUROAPI’s strategy towards greater energy autonomy.

This investment benefits from the financial support of €10.4 million from the French Government within the framework of the France Relance plan operated by ADEME. Being awarded by this selection program is a true recognition of EUROAPI’s efforts in favor of decarbonization.

“This major investment in Saint-Aubin-lès-Elbeuf will enable us to reduce our gas consumption and to produce 76% of the total site steam with no CO₂ emission in 2025. It bolsters our commitment to delivering our ESG roadmap and more particularly to our industrial process decarbonization initiative” commented Karl Rotthier, Chief Executive Officer of EUROAPI. “I am particularly proud that the quality of this project has allowed the Group to be selected by the France Relance program and to benefit from strong financial support. This new generation of equipment will also allow us to reduce the amount of energy required for the fermentation process behind the production of vitamin B12” added Eric Berger, Chief Operating Officer of EUROAPI.

The Saint-Aubin-lès-Elbeuf factory is one of the six EUROAPI sites. It is specialized in large scale fermentation and has downstream processing facilities. The plant has health authority, GMP and ISO certifications and operates based on the highest industrial standards. It is the only Western API manufacturing site of vitamin B12 for the pharmaceutical industry and plays a crucial role in ensuring its global supply.

About EUROAPI

EUROAPI is focused on reinventing active ingredient solutions to sustainably meet customers’ and patients’ needs around the world. We are a leading player in active pharmaceutical ingredients with approximately 200 products in our portfolio, offering a large span of technologies, while developing innovative molecules through our Contract Development and Manufacturing Organization (CDMO) activities.

Taking action for health by enabling access to essential therapies inspires our 3,350 people every day. With strong research and development capabilities and six manufacturing sites all located in Europe, EUROAPI ensures API manufacturing of the highest quality to supply customers in more than 80 countries. EUROAPI is listed on Euronext Paris (Ticker: EAPI – ISIN: FR0014008VX5). Find out more at www.euroapi.com

Media Relations Contact:

Laurence Bollack
Mob.: +33 (0)6 81 86 80 19
mr@euroapi.com

Investor Relations Contact:

Guillaume Rosso
Mob.: +33 (0)6 49 51 59 78
ir@euroapi.com

Forward-Looking Statements

Certain information contained in this press release is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future strategy, financial and non-financial future results and the environment in which the Group operates, as well as events, operations, future services or product development and potential. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “could” and similar expressions. Forward looking statements and information do not constitute guarantees of future performances, and are subject to known or unknown risks, uncertainties and other factors, a large number of which are difficult to predict and generally outside the control of the Group, which could cause actual results, performances or achievements, or the results of the sector or other events, to differ materially from those described or suggested by these forward-looking statements. These risks and uncertainties include those that are indicated and detailed in Chapter 3 “Risk factors relating to the issuer” of the prospectus approved by the French Financial Markets Authority (Autorité des marchés financiers, AMF) on March 31, 2022, under number 22-076. These forward-looking statements are given only as of the date of this press release and the Group expressly declines any obligation or commitment to publish updates or corrections of the forward-looking statements included in this press release in order to reflect any change affecting the forecasts or events, conditions or circumstances on which these forward-looking statements are based.