Biotech firm Benchmark Holdings has converted its existing £16m loan with Nordea Bank related to its Genetics salmon egg facility in Salten, Norway into a green loan.

The new green loan remains as ring-fenced debt without recourse to the remainder of Benchmark and has a marginally lower interest rate.

The conversion of the loan into a green loan required the Sheffield-based company to meet key Environmental, Social, and Governance (ESG) criteria, including water management and the use of sustainable raw materials from deforestation-free sources.

Trond Williksen, CEO of Benchmark Holdings, said: "The conversion of our existing loan with Nordea into a green financing facility is a testament to Benchmark's commitment to ESG and sustainability, as well as to the successful development of our salmon genetics infrastructure and practices.

Benchmark Holdings is based in Sheffield.

"We will continue to utilise green finance where appropriate whilst furthering our ESG and sustainability aims.

"Benchmark's commitment to sustainability is further underpinned by our Net Zero targets and the work underway to improve our energy efficiency and access to renewable energy sources."

Biotech firm Benchmark converts £16m loan for its salmon egg facility into a green loan