KONE Receives EUR200-Million Loan to Support R&D

In December, the European Investment Bank (EIB) announced it signed a EUR200-million (US$216.4 million) loan with KONE to support R&D for more energy-efficient and intelligent elevators, escalators, moving walks, components and technologies. “The project will contribute to increasing the European Union’s (EU) technology leadership and competitiveness,” EIB observed. EIB Vice President (VP) Thomas Östros, responsible for Finland where KONE is based, said the loan — EIB’s third to KONE — promises to boost competitiveness in a number of areas, including digitalization and advanced materials, in turn supporting job and economic growth. KONE Head of Global R&D and Senior VP Jean-Christophe Almira said the company will concentrate on innovations that help it meet its greenhouse gas emission-reduction targets