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  • GN Store Nord signs €75 million loan agreement with the European Investment Bank to support its R&D in the hearing aid sector.
  • Financing will help the development of next-generation chipsets and new product platforms, new technology for rechargeable batteries, improved sound quality and cloud-enabled services.
  • Activities supported by EIB financing will be carried out primarily in Denmark.

Danish hearing aid innovator GN Store Nord has signed a €75 million loan agreement with the European Investment Bank (EIB). The long-term financing will be used to fund a corporate R&D project at GN Hearing, increasing GN’s know-how in hearing aid technology for all types of hearing impairment, including its expertise in chipsets, form factors, enhanced rechargeability and connectivity.

The products and services developed as a result of the project will improve the social inclusion of people suffering from hearing disabilities. It is also thought that hearing aids can postpone the onset of dementia[i], making GN’s research doubly important given the ageing European population. The research financed by the EIB loan will be carried out primarily in Denmark and, for a small part, in the Netherlands.

“Supporting cutting-edge research in hearing healthcare by a European company is also about safeguarding technology and know-how.” said EIB Vice-President Christian Kettel Thomsen. “In turn, the EIB is supporting, directly and indirectly, economic growth and employment in Europe. Apart from that, GN Store Nord and the EIB have a longstanding relationship which we are happy to continue. Their hearing solutions can be an important factor for social inclusion and are definitely improving peoples’ lives, which is also the core mission of the EIB.

Background information:

In 2020, the EIB provided over €600 million in loans for Danish projects in various sectors, including services, innovative industry and small and medium-sized enterprises. The EIB and GN Store Nord signed earlier financing agreements in January 2016, December 2017 and July 2020.

The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by its innovation leadership, it leverages technological synergies between its hearing and audio divisions to deliver unique and increasingly individualised user experiences in its products and solutions.

150 years ago, GN was founded with a truly innovative and global mindset. Today, the company honours that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturisation and collaboration with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the GN Group employs 6 500 people and is listed on Nasdaq Copenhagen (GN.CO).


[i] Hearing aids linked to lower risk of dementia, depression and falls ScienceDaily