Electrolux has signed a €250 million loan with the European Investment Bank (EIB) to support research, development and innovation (RDI) on more energy-efficient household appliances.
Electrolux will use the financing to boost its research and development in the areas of energy efficiency and digitalization. The financing signed is the fourth EIB operation with Electrolux and comes after a similar facility signed in 2015, which also highlights the need for continued innovation in areas such as energy efficiency in the face of climate change.
“We have ambitious targets to become climate neutral and we appreciate the ongoing support from the EIB to help us achieve this. From how we source our materials, to coming up with innovations that allow both ourselves as a business and anyone who buys our products to have as low an impact on the planet as possible is central to us,” says Jonas Samuelson, CEO of Electrolux.
85% of total CO2 emissions in the life cycle of white goods are produced during the use of the products, highlighting the need for sustainability by supporting the development of products with improved environmental performance, such as appliances with reduced water and energy consumption. Electrolux will also study solutions to minimize plastic waste from its products and promote their recycling.