- The financing will support Metso Outotec’s competitiveness going forward enabling the company to strengthen its R&D activities.
- The project will also contribute positively to Metso Outotec’s sustainability targets since the company aims for all its product R&D projects to have energy, water or emissions objectives.
(PRESS RELEASE) LUXEMBOURG, 16-Dec-2022 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, has announced EUR 50 million financing for Metso Outotec, a Finish leader in sustainable technologies for the aggregates, minerals processing and metals refining markets. The funding covers the company’s RDI-related operational expenditure in minerals and aggregates processing in Europe for the years 2022-2025. The project will also develop and offer solutions and services that improve energy, water usage efficiency and safety, develop circular business models and reduce emissions.
A major part of the project will be carried out in Finland (mainly in transition regions) and in Sweden, but other components will also be conducted in Mannheim (Germany) and in a transition region of Burgundy in France.
EIB Vice-President Thomas Östros said: “We are delighted to sign this agreement with Metso Outotec. The project is in line with the European Union’s policy orientations to promote private sector investment in competitive innovative activities. This investment represents an opportunity for the EIB to combine its key contribution to promote innovation with the Bank’s climate action and environmental sustainability objective, and it also helps to strengthen EU cohesion.”
”We are very pleased about our cooperation with the EIB and its support for our innovation and R&D activity. As part of our strategic commitment to sustainability and limiting climate change to 1.5°C, all our RDI projects have a sustainability target”, said Metso Outotec CFO Eeva Sipilä.
The EIB Group has adopted a Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and provide more than 50% of EIB finance for climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By improving our customers’ energy and water efficiency, increasing their productivity and reducing environmental risks with our product and process expertise, we are a partner for positive change. Metso Outotec is committed to limiting global warming to 1.5°C with science-based targets.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15 000 people in more than 50 countries and its sales in 2021 amounted to some €4.2 billion. The company is listed on the Nasdaq Helsinki: mogroup.com
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SOURCE: European Investment Bank