Uzbek glass wool producer Ecoclimat raises $5mn loan from EBRD

The European Bank for Reconstruction and Development (EBRD) has announced the allocation of a $5mn loan to help Uzbek glass wool producer Ecoclimat Group (Ecoclimat) expand production capacity.

Funds are to be used to launch Angren Insulation, a greenfield manufacturing facility for the production of glass-wool insulation materials. The plant is to be located in a free economic zone near the Uzbek capital, Tashkent.

“The new production facility will allow Ecoclimat to raise its total annual production capacity of insulation materials to around 32,000 tonnes. This will help the company meet growing demand for mineral-wool insulation products and provide energy-efficient solutions for heating and cooling in a region that is known for its harsh climate,” the EBRD said.

The project will promote green investment in Uzbekistan as glass wool efficiently reduces energy demand in buildings. Angren Insulation will also use recycled glass known as cullet as the key raw material for the production of glass wool. Glass wool is a carbon-neutral construction component, with a service life that usually exceeds 15 years.

Once operational, the new Angren plant is to help reduce annual CO₂ emissions by 85,000 tonnes.