NIB finances a safety laboratory in Borås, Sweden

The Nordic Investment Bank (NIB) has signed a 5-year SEK 200 million (approximately EUR 18 million) loan with Research Institutes of Sweden AB (RISE) for the financing of a new laboratory for safety testing of vehicles and batteries in Borås in Western Sweden.

The laboratory that was officially inaugurated on 28 September 2023 provides a testing platform for electric vehicles and batteries. The users of the safety laboratory will be Swedish and international vehicle manufacturers and the battery manufacturing industry. Among other things, the tests will be linked to charging, short circuits, vibrations, mechanical shock, extreme temperatures, and fire risks.

“The electrification of transport is progressing rapidly. With this loan, we can support innovation in the Swedish car industry for the research and development of new battery technologies, leading to more efficient and safe technologies,” says André Küüsvek, NIB President and CEO.

As electric vehicles become more common, the industry has increasing need for testing. It is crucial to ensure that batteries are safe and pose no risk to passengers or the environment. By testing and analysing the batteries in the lab, the industry can identify potential safety risks and take the necessary measures to eliminate them.

“The lab is an open and neutral platform. Here, industry and research meet to accelerate the transition together. We’re convinced that it’s through collaboration that we can gather strength and drive world-class research and development,” says Paul Halle Zahl Pedersen, Senior Vice President for Security and Transport at RISE.

In addition to test areas, the laboratory will house battery and component research for hydrogen applications. The laboratory has been operational since September 2023, and is located in Borås, Sweden. The laboratory has a gross area of 4,100 square metres.

RISE is Sweden’s research institute and innovation partner. Through its international collaboration programmes with industry, academia and the public sector, RISE ensures the competitiveness of the Swedish business community and contributes to a sustainable society. Its 3,000 employees engage in and support all types of innovation processes. RISE is an independent state-owned research institute for future-proof technologies, products, and services.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Tore Emanuelsson, Senior Banker, at +358 10 618 0244, tore.emanuelsson@nib.int

Lotta Forssell, Senior Communications Officer, at +358 10 618 0498, lotta.forssell@nib.int