Husqvarna Secures EUR 100 Million Loan for Electric Equipment R&D

Husqvarna Secures EUR 100 Million Loan for Electric Equipment R&D

(IN BRIEF) Nordic Investment Bank (NIB) and Husqvarna AB, a Swedish outdoor power products manufacturer, have inked a EUR 100 million 7-year loan pact to fund research and development (R&D) efforts from 2022 to 2024 in electrifying motorized equipment. This financial injection will facilitate Husqvarna’s transition from petrol-powered to battery-powered equipment, aligning with the growing demand for sustainable and quieter solutions in the industry. Husqvarna’s commitment to innovation and environmental responsibility, supported by NIB’s financing, underscores a pivotal step towards a greener future in the outdoor power products sector.

(PRESS RELEASE) HELSINKI, 25-Apr-2024 — /EuropaWire/ — NIB and Swedish producer of outdoor power products Husqvarna AB have signed a EUR 100 million 7-year loan agreement to finance R&D investments during 2022 to 2024 in electrification of motorised equipment.

The loan is set to finance Husqvarna’s R&D efforts in developing electric and battery-operated equipment. This initiative is aimed at transitioning Husqvarna’s product range from petrol-powered to battery-powered motorised equipment.

The shift towards battery-powered products reflects Husqvarna’s response to the growing demand for more sustainable, connected, and silent solutions in the industry. From an environmental aspect, this is important as Husqvarna will be able to significantly decrease its green-house gas emissions in the user phase by shifting a large share of its motorised product offering from petrol to battery powered products.

Since 2007, NIB and Husqvarna have collaborated on four loans. Most recently, in 2017, NIB also provided a loan to finance Husqvarna’s R&D investments.

“NIB is proud to support Husqvarna in its R&D endeavors aimed at pioneering sustainable solutions in the outdoor power products industry. This loan underscores our commitment to fostering innovation and environmental responsibility. By transitioning to battery-powered equipment, Husqvarna contributes to a greener future,” says Nicolas Audibert, Director, and Country Lead for Sweden

Husqvarna has a strong track record of innovation and collaborates with both universities such as Linköping, Chalmers and KTH, as well as the private sector. Most of the research will be carried out at the company’s R&D centres in Sweden (Jönköping, Jonsered and Stockholm).

Husqvarna is a leading producer of outdoor power products for forest, park and garden care, as well as light construction products for sawing, drilling, grinding, polishing and demolishing concrete and other hard materials. Founded in 1689, the company employs around 13,000 people in 40 countries today.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

Media Contacts:

Nicolas Audibert
Director, Lending department, and Country Lead for Sweden
+358 50 311 3689
Nicolas.Audibert@nib.int

Arild Moen
Associate Director, Communications
+358 10 618 0496
arild.moen@nib.int

SOURCE: Nordic Investment Bank