11.11.2011

Wärtsilä and European Investment Bank agree on EUR 150 million loan for R&D activities

Wärtsilä’s research will benefit the transport and energy sectors in environmental performance and fuel efficiency, according to EIB.

“We are happy to sign this agreement with Wärtsilä, which will bring substantial benefits to the transport and energy sectors in environmental performance and fuel efficiency. These are key considerations for the EIB’s involvement in the world maritime equipment, as well as in the power generation sector,” said Wilhelm Molterer, EIB Vice President responsible for Finland, at the signing ceremony.

Wärtsilä’s research centers for engine technology are located in Finland, Italy, Spain and Switzerland. In 2010, Wärtsilä’s total expenditure in research and development was EUR 141 million and the company’s net sales totalled EUR 4.6 billion. Wärtsilä has operations in 70 countries around the world and 17,500 employees.


Source: Wärtsilä