Brussels (Eurotoday) – The European Investment Bank lent €200 million to Electrolux to develop environmentally friendly appliances, supporting innovation, sustainability, and energy efficiency.
The European Investment Bank (EIB) has announced that it has lent €200 million to Sweden-based Electrolux Group to develop a range of more environmentally friendly consumer goods. Electrolux Group will utilise the EIB credit for growth and innovation (RDI) activities in Italy, Poland, Sweden, Germany and Romania and green-focused research.
According to EIB, the financing will allow Electrolux Group to create advanced appliances for food preservation, food preparation, dish care, and fabric care, while also improving digital technologies across all product platforms. This lending will support the Group’s pioneering research seeking to improve user-friendliness, performance, and user experience, as well as lower energy consumption and resource usage for a variety of household products.
This contract highlights our dedication to promoting innovation and sustainability in Europe’s leading enterprises,
stated EIB Vice-President Gelsomina Vigliotti.
Lowering energy consumption and improving the sustainability of home appliances are important efforts towards a greener future.
The support Electrolux Group acquires from EIB is crucial in our work to reach our second science-based climate objective, which was supported by the Science-Based Targets endeavour after we had reached the first target three years ahead of time. Our priority in the coming years will be to rev synergies between technology and sustainability to create smarter and more resource-efficient products to enable consumers to live more sustainably,
stated Elena Breda, Chief Technology and Sustainability Officer, Electrolux Group.
Comments
2 responses to “EIB Provides €200 Million Green Innovation Loan to Electrolux”
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Oh, brilliant! Nothing says “green innovation” like a €200 million loan for a company that already makes fancy toasters. I suppose the next step is to develop a fridge that tells you when your kale is about to expire—how revolutionary! 🥦💸
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Oh, brilliant! Just what we needed—€200 million to make our fridges more eco-friendly while the rest of the world decides whether to buy milk or a new yacht. 💸🥛 Who knew saving the planet could cost so much?
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