Espoo-based Valmet, a developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, has secured €175M loan from the European Investment Bank (EIB).
This financing aligns with the EIB’s support for REPowerEU, the EU plan to eliminate fossil fuel import dependence.
The EIB is the EU’s long-term lending institution, owned by EU Member States. The EIB Group has laid out an ambitious Climate Bank Roadmap, aiming to support €1T in climate action and environmental sustainability investments by 2030.
To achieve this goal, more than half of EIB finance is planned to be dedicated to climate action and environmental sustainability by 2025. As part of this roadmap, all new EIB Group operations have been aligned with the objectives and principles of the Paris Agreement since the beginning of 2021.
Capital utilisation
This loan will support Valmet’s Research and Development (R&D) activities from 2023 to 2026, specifically focusing on technologies that replace fossil fuels with renewable alternatives. In 2022, Valmet allocated €95M for R&D. Currently, it operates 28 global R&D centres and holds around 1,300 protected inventions.
The latest funds will also help Valmet to enhance resource and energy efficiency, promote the use of recyclable raw materials, and improve overall sustainability in its operations.
Janne Pynnönen, VP of, R&D at Valmet says, “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,” adds Pynnönen.
Brief about Valmet
Valmet claims to be a prominent global provider of process technologies, automation, and services for industries such as pulp, paper, and energy. The company has expanded its expertise to serve a broader range of process industries with its automation systems and flow control solutions.
With a workforce of 17,500 professionals worldwide, Valmet is dedicated to enhancing its customers’ performance every day.
The company has a rich industrial heritage spanning over 220 years and a tradition of continuous improvement and innovation. In 2022, a significant milestone was reached when they merged with the flow control company Neles. Valmet reported net sales of approximately €5.1B in 2022, reflecting their substantial presence and impact in the global industrial landscape.
