Wärtsilä Corporation and
Nordic Investment Bank have signed a loan agreement totalling EUR 50 million for research and development financing. The contract for the 10-year loan was signed in Helsinki, Finland on 13 February 2013.
Wärtsilä said the R&D loan supported its long-term strategy of strengthening its technology position in the global marine and energy markets. With the loan, Wärtsilä said it would further develop its medium-speed engine technology in terms of efficiency, reliability and environmental performance, as well as in reducing lifecycle costs.
Since 2009, Wärtsilä has increased its R&D-related expenditures by more than 30 percent. The R&D-related expenditure in 2012 was at EUR 188 million, which represents four percent 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 a wide portfolio of exhaust gas cleaning systems for the removal of sulphur oxides. The portfolio consists of open-loop, closed-loop and hybrid exhaust gas cleaning systems.
Wärtsilä is also 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. The new technology is said to meet IMO tier III emission requirements without exhaust gas treatment systems.
Wärtsilä's research centres for engine technology are located in Finland, Italy, Spain and Switzerland.
