European Investment Bank backs Electrolux development of energy efficient appliances

The European Investment Bank (EIB) has provided a 150 million EUR loan to Electrolux for the development of more energy efficient, more user friendly and better performing major and small home appliances.

The loan is part of Electrolux continuous funding activities and made possible through the company’s commitment to focusing significant parts of its R&D spending on sustainability related projects. Electrolux has a goal to reduce carbon dioxide emissions from its products and operations by 50% by 2020.

“About one third of our R&D spending is related to sustainability, and energy efficiency is a significant part of this, since the largest part of an appliance’s environmental impact comes from the usage over its lifetime,” said Jan Brockmann, Chief Operations Officer at Electrolux. “We are pleased to have the support of the EIB in this important work, making a positive difference for our consumers and for the planet.”

Electrolux has also previously cooperated with the EIB on loans related to its sustainable R&D activities.