Finland’s Wärtsilä Secures Loan for R&D Activities

Wärtsilä Secures Loan for R&D Activities

Wärtsilä Corporation and Nordic Investment Bank have signed a loan agreement totalling EUR 50 million for research and development financing. The contract for this 10-year loan was signed in Helsinki, Finland on 13 February 2013.

This R&D loan supports Wärtsilä’s long-term strategy of strengthening its technology leadership position in the global marine and energy markets. With this loan, Wärtsilä will further develop its medium-speed engine technology in terms of efficiency, reliability and environmental performance, as well as in reducing lifecycle costs.

Wärtsilä’s R&D activities continue to be given a high profile. Since 2009 Wärtsilä has increased its R&D related expenditures by more than 30 per cent. The R&D related expenditure in 2012 was at a high level of EUR 188 million, which represents four per cent of the company’s net sales.

The key areas of Wärtsilä’s research and development operations are 4-stroke engines, 2-stroke engines, propulsion, as well as emissions abatement and energy efficiency products. Wärtsilä has today the widest portfolio of exhaust gas cleaning systems for the removal of sulfur oxides. The portfolio consists of open-loop, closed-loop and hybrid exhaust gas cleaning systems. The AQUARIUS UV ballast water management system has received type approval at the end of December 2012. Wärtsilä is a pioneer in developing dual-fuel technology for 2- and 4-stroke engines. Testing during 2012 confirmed that Wärtsilä’s 2-stroke dual-fuel engine technology is progressing as planned, and this new technology will meet IMO tier III emission requirements without exhaust gas treatment systems. Wärtsilä’s research centers for engine technology are located in Finland, Italy, Spain and Switzerland.

Press Release, February 13, 2013

 

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply