GREEN4SEA Conference & Awards

7 Mar 2018
Learn More
GREEN4SEA Conference & Awards

7 Mar 2018
Learn More

EIB, Wärtsilä sign for eco-friendly ship technology research

wartsila eib
EIB’s Vice President Alexander Stubb and Wärtsilä’s President Jaakko Eskola at the signing of the new RDI loan / Credit: Wartsila

The European Investment Bank (EIB) and Finnish marine technology company Wärtsilä have signed a EUR 125 million loan agreement, focused on the research and development of more environmentally-friendly and efficient ship engines and power plants.

This fifth loan to support Wärtsilä’s Research, Development and Innovation (RDI) will further solidify the successful cooperation with the EIB, which has resulted in tangible improvements in European engine technology since the first loan was signed in 2003.

The RDI project supported by the EIB loan will cover the period of 2017-2019 and will focus on four-stroke (medium speed) engines for marine and power plant applications.

As the company closely cooperates with Finnish and European universities and research institutes, the new RDI program will also provide opportunities to these institutions to carry out applied research and is expected to serve as a basis for training and recruitment of young engineers.

“Wärtsilä greatly appreciates EIB’s constant support over the years, of which this 5th Research, Development and Innovation loan is a good example. EIB’s long term funding is and has been one of the key enablers for Wärtsilä’s constant focus on research and development,” says Marco Wiren, Executive Vice President and Chief Financial Officer.

Related Posts


Share on Facebook0Tweet about this on TwitterShare on Google+0Share on LinkedIn4

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Explore Our Group Sites:

x

Check Also

ship recycling in Bangladesh

IMO, Norway to boost sustainable ship recycling in Bangladesh

The second phase of an IMO-implemented project to enhance safe and environmentally sound ship recycling in Bangladesh is set to begin in January, following a US$1.1 million funding agreement with Norway. The second phase will continue to support the country to comply with international requirements and guide it towards accession to Hong Kong Convention. 

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. By continuing to use the site, you agree to the use of cookies.more information

Close