By Ericsson, a leading telecommunications company, has recently announced that it has signed two funding agreements with the European Investment Bank, amounting to a total of €420 million ($455.6 million). The funds will be utilized to support research and development investments in wireless technology until 2025.
Apart from bolstering its balance sheet and financial flexibility, these loans will enable Ericsson to finance key investments that contribute to the company’s broader mission of achieving a net-zero target by 2040. By focusing on reducing energy consumption in mobile networks globally, Ericsson aims to make significant strides towards a low-carbon economy.
Highlighting the significance of wireless technology in this transition, Carl Mellander, Ericsson’s Chief Financial Officer, stated, “Wireless technology will play a key role in transitioning towards a low-carbon economy. 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.”
In December 2023, an initial disbursement of €250 million from the funds was made.
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