ABB invests 500 million euros in electrification
ABB will die Energiewende durch die Entwicklung von Lösungen für die Stromverteilung unterstützen. Die Europäische Investitionsbank unterstützt die Innovations- und Forschungstätigkeit der Zürcher Technologiefirma mit einem Darlehen über 500 Millionen Euro.
ABB and the European Investment Bank(EIB) have signed a financing agreement for a loan totalling 500 million euros, ABB announced in a press release. The Zurich-based technology company intends to use the funds to develop semiconductor-based circuit breakers, environmentally friendly switchgear and technologies to improve efficiency and automation in buildings. The funds will be channelled into corresponding research by ABB in Switzerland, Germany, Italy, the Czech Republic, Finland, Norway, Poland and other European countries.
“Electrification is crucial in the fight against climate change,” EIB Vice-President Ambroise Fayolle is quoted as saying in the press release. “With our loan to ABB, we are supporting a company with a long history of developing electrical products and a strong commitment to promoting practical solutions that make the European economy greener.”
The new power distribution solutions are intended for use in functional buildings, industrial operations and microgrids, for example. The development and commercialisation of technologies is a high priority in ABB’s growth strategy. Last year, the company invested around 1.67 billion dollars, or around 4 per cent of its consolidated sales, in research and development.