Written by Saf Malik
Ericsson has signed two agreements for funding with the European Investment Bank (EIB) for a total of €420 million.
The loans will finance parts of Ericsson’s R&D investments in wireless technology up to 2025. The R&D investments are an important contributor to the company’s plans to reach net zero by 2040.
“Wireless technology will play a key role in transitioning towards a low-carbon economy,” said Carl Mellander, Ericsson’s CFO.
“The signing of the funding agreements with the European Investment Bank provides Ericsson with increased flexibility to drive critical research and development into making our own products more competitive and energy efficient.
“This will benefit our operator customers as well as other industrial sectors in their efforts to create a positive impact.”
The loans form an important part of Ericsson’s overall funding strategy, the firm says, complementing other sources.
