A €110 million fi nancing to be put towards: industrial r esearch, innovation, experimentation and new product development. This is the commitment announced by the European Investment Bank (EIB) and Prysmian to support the Group’s 2017-2020 R&D plans in Europe. The fi nancing represents approximately 50% of the investments planned in Europe over the same period.
“Our Group’s growth strategy revolves around our commitment to R&D, an area where we intend to increase our investments further, also thanks to the funding from the EIB,” explained Prysmian Group CEO Valerio Battista.
“In particular, cable technology is proving that it can contribute decisively to the challenge of digitalisation and the development of more e ffi cient and environmentally sustainable power grids. Innovative optical fi bres, cables with a reduced environmental impact and higher capacity and voltage rating, and technologies for monitoring network conditions are just a few of the areas on which we are focusing.”
The EIB fi nancing will support projects to be developed at R&D centres in six European countries: France, Great Britain, the Netherlands, Spain, Germany and Italy, for which a signifi cant share of the resources is intended, being home to Prysmian Group’s headquarters and centre of excellence.
“The development of electrical and digital networks is one of the pillars of the EIB’s fi nancing programme.”, commented Dario Scannapieco, Vice-President of the EIB. “We at the EIB are very satisfi ed to be supporting Prysmian’s investment plans also because they concern R&D laboratories located in six diff erent European countries”.
The fi nancing will allow Prysmian to step up innovation in the areas of ultra-fast telecommunications networks and smarter, more sustainable power grids, with a particular focus on innovative materials involving the use of nanotechnology, systems for monitoring and managing land and submarine networks, and new product developments aimed at reducing power loss and increase transmission capacity for more sustainable solutions.
The EIB ﬁ nancing will support projects to be developed at R&D centres in six European countries”
Prysmian to step up innovation in the areas of ultra-fast telecommunications networks and smarter, more sustainable power grids”
Prysmian Group recently announced that it joined the SmartWay® Transport Partnership, an innovative collaboration between the U.S. Environmental Protection Agency (EPA) and over 3,000 corporate partners and stakeholders to help measure, benchmark and improve logistics operations with the goal of reducing environmental impact.
“Around the world, Prysmian Group is committed to protecting and conserving natural resources for our customers, our environment and our business,” said Hakan Ozmen, CEO of Prysmian Group North America. “This partnership with SmartWay® will help us establish and improve the sustainability as we continue to implement responsible supply chain practices throughout our organization.”
Prysmian Group North America will contribute to the SmartWay® Transport Partnership’s goals of saving 215.4 million barrels of oil, $29.7 billion in fuel costs and 103 million tons of air pollution (NOx, PM, and CO2). This is the equivalent of eliminating annual energy use in over 6 million homes.