AlzChem Group AG Secures EUR 34.4 Million from EU for Expansion

AlzChem Group AG, a company based in Trostberg, has been awarded a substantial investment grant by the European Commission. Following a competitive Europe-wide selection process, the company will receive EUR 34.4 million. This funding comes from the ASAP ("Act in Support of Ammunition Production") initiative, which aims to bolster production capabilities within the EU.

The investment will be utilized over a period of two and a half years, with the goal of enhancing the production of nitroguanidine. Additionally, AlzChem intends to modernize and expand its existing facilities for guanidine nitrate production, a key component used in crop protection, airbag propellants, and increasingly in defense technology.

This financial support was confirmed by the EU Commission and the member states today, heralding a significant phase of growth for AlzChem. The final details of the funding will be solidified with the signing of a grant agreement anticipated in May 2024.