Wärtsilä Gets Fourth R&D European Investment Bank Loan

Press Release
Thursday, June 13, 2013

The European Investment Bank (EIB) has granted a EUR 150 million loan to Wärtsilä to finance the company's research, development and innovation (RDI) activities in several European countries.

The contract for the 10-year loan was signed in Helsinki, Finland on 13 June 2013, and marks a continuation of the longstanding and strong co-operation between the European Investment Bank and Wärtsilä. With the loan Wärtsilä will continue to develop engines and power plants that are cleaner, more efficient, more reliable and with higher levels of automation, lower lifecycle costs, as well as with improved environmental performance. New maritime emission requirements are expected to increase the demand for more environmentally sound engines and a similar trend is evident in land-based power plants.

In Europe, Wärtsilä has research centers in Finland, Italy, Switzerland, the UK, the Netherlands, Norway, and Spain. In 2012, Wärtsilä's total expenditure in research and development was EUR 188 million, which represents four per cent of the company's net sales. Wärtsilä's R&D activities employ more than 800 specialists globally.
 
The key areas of Wärtsilä's research and development operations are 4-stroke engines, 2-stroke engines, propulsion, gear box systems, seals and bearings, and their integration. In addition, Wärtsilä has been a pioneer in introducing dual-fuel technology for 2- and 4-stroke engines and during recent years has launched a series of gas engines, which offer outstanding fuel flexibility. Furthermore, environmental and flow & gas technologies are becoming increasingly important areas for research and development.

"We are glad to sign this agreement with Wärtsilä, which will bring substantial benefits to the transport and energy sectors in environmental performance and fuel efficiency. These are central considerations for the EIB's involvement in RDI projects in the maritime and power generation sectors," says Jonathan Taylor, EIB Vice-President.




 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

SeaHow Skimmer System

New SeaHow skimmer systems – designed to collect both light and heavy oils efficiently – can be implemented in almost any work boat, starting with vessels only six meters long.

STX France Shipyard Adds More Automated Welding

A good order book and need for higher capacity in the dock were the basis for STX France to purchase more welding automation for its shipyard’s panel welding.   STX

IMCA Publishes Introduction to Inertial Navigation

The increased use of inertial navigation systems (INS), particularly in support of offshore survey, installation and inspection tasks, has emphasized the need for

Marine Propulsion

Videotel Training Film Wins Media Award

Videotel, the international provider of e-Learning maritime training solutions and a company of KVH Industries, Inc., has received a Golden Reel Award from the

DEME Orders LNG-powered Dredgers from Royal IHC

Royal IHC has been awarded a contract for the design, construction and delivery of two unique low-emission dredging vessels to DEME in Belgium, the builder announced today.

SINOPACIFIC Delivers AHTS Vessel to FEMCO

On April 28, 2015, Sinopacific Shipbuilding Group (SINOPACIFIC) held a christening and delivery ceremony for a newly built SPA150 AHTS, constructed for shipowner FEMCO Group.

Finance

Committee to Consider Coast Guard Authorization Bill

The U.S. Committee on Transportation and Infrastructure, chaired by U.S. Rep. Bill Shuster (R-Pa.), will mark up legislation this week that authorizes United States

Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes

Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May.   There

Canada Invests In Port Lambton Rescue Station

Inshore Rescue Boat Station upgraded as part of federal infrastructure commitment   On behalf of the Honorable Gail Shea, Minister of Fisheries and Oceans, Pat Davidson,

Marine Power

Videotel Training Film Wins Media Award

Videotel, the international provider of e-Learning maritime training solutions and a company of KVH Industries, Inc., has received a Golden Reel Award from the

DEME Orders LNG-powered Dredgers from Royal IHC

Royal IHC has been awarded a contract for the design, construction and delivery of two unique low-emission dredging vessels to DEME in Belgium, the builder announced today.

SINOPACIFIC Delivers AHTS Vessel to FEMCO

On April 28, 2015, Sinopacific Shipbuilding Group (SINOPACIFIC) held a christening and delivery ceremony for a newly built SPA150 AHTS, constructed for shipowner FEMCO Group.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2619 sec (4 req/sec)