The European Investment Bank (EIB) and Wärtsilä, a leading Finnish producer of engines for  marine and power plant applications, have signed a EUR 125m loan agreement. The EIB financing supports the companies research and development of more environmentally friendly and efficient ship engines and power plants. This fifth loan to support Wärtsilä’s RDI will further solidify the successful cooperation with the EIB, which has resulted in tangible improvements in European engine technology since the first loan was signed in 2003.

The RDI project supported by the EIB loan reflects Wärtsilä’s continued shift towards cleaner technologies and higher levels of automation and digitalisation. It will cover the period of 2017 to 2019 and focus on four-stroke (medium speed) engines for marine and power plant applications. As Wärtsilä closely cooperates with Finnish and European universities and research institutes, the new RDI program will also provide opportunities to these institutions to carry out applied research and serves as a basis for training and recruitment of young engineers.

“Wärtsilä greatly appreciates EIB’s constant support over the years, of which this 5th Research, Development and Innovation loan is a good example. EIB’s long term funding is and has been one of the key enablers for Wärtsilä’s constant focus on research and development”, says Marco Wiren, Executive Vice President and Chief Financial Officer