Sweden. Husqvarna AB
| Date of agreement: | 25 Mar 2024 |
|---|---|
| Country: | Sweden |
| Customer: | Husqvarna AB |
| Amount in EUR: | EUR 100 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Research and development |
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Sustainable technology innovation, sustainable manufacturing and carbon capture and storage
Amount disbursed: EUR 100 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
NIB and Swedish producer of outdoor power products Husqvarna AB have signed a EUR 100 million 7-year loan agreement to finance R&D investments during 2022 to 2024.
The loan is set to finance Husqvarna’s R&D efforts in developing electric and battery-operated equipment. This initiative is aimed at transitioning Husqvarna’s product range from petrol-powered to battery-poweredmotorised equipment. The shift towards battery-powered products reflects Husqvarna’s response to the growing demand for more sustainable, connected, and silent solutions in the industry.
Since 2007, NIB and Husqvarna have collaborated on four loans. Most recently, in 2017, NIB also provided a loan to finance Husqvarna’s R&D investments.
Husqvarna is a leading producer of outdoor power products for forest, park and garden care, as well as light construction products for sawing, drilling, grinding, polishing and demolishing concrete and other hard materials. Founded in 1689, the company employs around 13,000 people in 40 countries today.
Fulfilment of NIB's mandate
Productivity:
The investment allows Husqvarna to pursue the development of battery-powered products and to advance its battery-powered solutions. Husqvarna has a strong track record of innovation and collaborates with academia and the private sector in NIB’s member countries.
Environment:
Husqvarna’s shift to battery-powered motorized equipment will lead to environmental benefits primarily due to the reduction of emissions of greenhouse gases and other combustion emissions in the user phase of the products, as well as the reduced levels of noise and improved levels of health and safety for the people operating the equipment.
Sustainability summary
No significant environmental concerns have been identified.
