Kingspan is set to invest €200m in a new Building Technology Campus in Ukraine.
The new state-of-the-art facility will help meet rapidly growing demand for energy efficient buildings.
The site is to be constructed over the next five years and will create over 600 jobs.
Gene Murtagh, CEO of Kingspan Group said the investment sat at the crossroads of three crises - the climate crisis, energy security crisis, and the crisis caused by the Russian invasion of Ukraine.
He highlighted how the development will support Ukraine as it rebuilds its economy, meets demand across central and Eastern Europe for energy efficient buildings, and aids Europe in its bid to reduce reliance on oil and gas imports.
Ukraine’s Foreign Minister Dmytro Kuleba added, “Our goal is not solely renewal and rebuilding of the destruction caused by Russian aggression but also the creation of a completely new, modern and innovative economy leveraging leading urban development expertise and green technologies.
“For this reason, based on President Volodymyr Zelenskyy’s vision, we created the Recovery Plan for Ukraine, and Kingspan’s project meets both the spirit and the goal of our plan.
“We invite the international business community to follow this example by withdrawing completely from Russia and relocating their businesses in Ukraine.
“This will benefit the company's standing and its long-term strategy.”
