European Depositary Bank has provided the sustainability-focused investment outfit I(x) Net Zero with a $7.5m revolving credit facility.

The 31 August did not state what the funds will be used for.

I(x) Net Zero invests in the energy transition, such as biofuels, renewables and sustainable construction technology, in line with the UN Principles for Responsible Investing.

Listed on London’s AIM exchange, I(x) Net Zero said that it “provides its shareholders and investors the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.” It had total assets of $72m and posted an $18m loss after tax for the year ending 31 December 2022, its annual report .

EDB said it was one of the largest providers or depositary services for Ucits and alternative funds in Europe, with €177bn in assets under depositary and €26bn in assets under custody. It has 210 staff in the grand duchy. It is a subsidiary of Apex Group, a major corporate and fund services player in Luxembourg.

EDB was advised by McDermott Will & Emery and I(x) Net Zero by Qbera Capital and Reed Smith.