Wartsila Secures €75 Million Funding for Decarbonization Solution Research

Nordic Investment Bank (NIB) and Wärtsilä have agreed to a ten-year, EUR 75 million investment loan to support research and development in marine decarbonisation and renewable energy. The loan will provide long-term financing for Wärtsilä’s R&D investments in developing marine power supply and renewable energy solutions. The project is eligible for financing through NIB Environmental Bond proceeds. Wärtsilä’s R&D activities in the marine business focus on developing sustainable fuel solutions for the industry, with the aim of having a product portfolio ready for zero carbon fuels by 2030. In the energy business, Wärtsilä is enhancing engines used for flexible peak load solutions and developing energy solutions that combine engines, energy storage systems, and renewable production.

The decarbonisation of the marine and energy sectors is accelerating, driven by new technologies and alternative energy sources. NIB will continue to finance Wärtsilä’s R&D activities, supporting the company’s position in driving these transformations with a strong emphasis on sustainable innovation. Jeanette Vitasp, NIB Vice-President and Head of Lending, emphasizes the importance of financing these R&D activities to support Wärtsilä’s role in advancing sustainable solutions.

Overall, this loan agreement between NIB and Wärtsilä will provide long-term financing for research and development in marine decarbonisation and renewable energy. Wärtsilä aims to develop sustainable fuel solutions for the marine industry and to enhance engines used for flexible peak load solutions in the energy sector. The decarbonisation of these sectors is accelerating, and NIB’s continued support of Wärtsilä’s R&D activities will help drive sustainable innovation.

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