Valmet, a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, has signed a 175 million Euros loan agreement with the European Investment Bank (EIB).
The EIB is the long-term lending institution of the European Union and is owned by the EU Member States.
The loan will support Valmet’s Research and Development (R&D) activities to help finance technologies that replace fossil fuels with renewables, and the agreement is linked to the company’s R&D activities in 2023-2026.
The financing aims to enhance the resource and energy efficiency as well as the performance of Valmet’s technology, promote the use of recyclable raw materials and to improve the sustainability of Valmet’s operations. The financing is part of the EIB’s dedicated package of support to REPowerEU — the EU plan to eliminate dependence on fossil fuel imports.
Valmet’s R&D spending was 95 million Euros in 2022. Valmet has 28 research and development centers around the world and approximately 1,300 protected inventions.
“The aim of Valmet’s research and development work is to create new technologies, products and services that address customer needs and help respond to some of the most important global megatrends: enhancing the efficiency of raw materials, water and energy, promoting the use of renewable raw materials and reducing emissions. We’re happy about this loan agreement as it improves Valmet’s readiness to support the green transition in Valmet’s customer industries,” says Janne Pynnönen, vice-president, R&D, Valmet.