Zumtobel Group AG: EIB supports Zumtobel Group in the development of innovative lighting solutions

Dornbirn (pta008/11.12.2024/09:00) -
* The specialist lighting company will receive a EUR 50 million loan for research and development.
* The funding strengthens the company's innovation activities for the development of intelligent and innovative products

Dornbirn, Austria – The European Investment Bank (EIB) has granted a EUR 50 million loan to the Zumtobel Group to boost its research and development of innovative lighting solutions. The funding will support R&D projects in the lighting group's EU locations that are planned for the next three financial years, with a total budget of EUR 191 million.

The R&D-projects will develop smart components for indoor and outdoor lighting systems and will create innovative and energy-efficient lighting solutions for smart buildings and cities. All the projects focus on energy efficiency and connectivity, supporting EU sustainability and digitalisation objectives. The EIB is a long-term financing partner of the Zumtobel Group, which is based in Dornbirn, Austria. Since 2018, the EU-bank has helped strengthen the company's innovation capacity and financing position.

"Our partnership with the Zumtobel Group supports innovation, and will accelerate the green transition in Austria," said EIB Vice-President Thomas Östros . "This project demonstrates how EIB financing can help a company grow, while also contributing to digitalisation objectives and climate action."

As explained by Zumtobel Group CFO Thomas Erath , "In a world of digital transformation, innovative products are the engine of long-term success. As a lighting business with a global reach, we are making targeted investments to develop pioneering solutions for the future, especially at our research sites in the EU. The EUR 50 million in financing from the EIB will help us to consolidate our position as a driver of innovation in our sector and to remain among Austria's most innovative companies."

(Ende)