: Ericsson secures 7-year €420 million loan for R&D investment

Swedish vendor Ericsson has secured a seven-year €420 million loan with the European Investment Bank to support its investment in research and development for enhanced wireless technology until 2025. The vendor noted that €250m of the sum had already been disbursed.

Carl Mellander, Ericsson’s CFO, said, “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. This will benefit our operator customers as well as other industrial sectors in their efforts to create a positive impact.”

Ericsson believes this investment will support its goal of becoming net zero by 2040. The company also revealed this week that its second round of climate action targets toward net zero has been approved by the Science Based Targets initiative.