Irish insulation maker Kingspan Group KSP.I said on Tuesday it was raising 750 million euros from a so-called green private placement.

A green placement refers to a type of instrument that is specifically earmarked to raise money for climate and environmental projects. The company called the issue the largest corporate green private placement globally to date.

Kingspan is the global leader in high-performance insulation and building envelope solutions. Their mission is to accelerate a net zero emissions future with the wellbeing of people and planet at its heart.

Founded in the 1960s by Eugene Murtagh, the company floated on the Irish Stock Exchange in 1989 with a value of IR£20m. It expanded into insulated panels and rigid insulation board via numerous greenfield plants, and acquisitions including the European insulation arm of CRH plc in 2010 and the construction division of ThyssenKrupp Steel in 2012.

The year 2010 showed the first growth in sales for three years. In August 2012 the company bought Rigidal Industries.

Source Nasdaq