BAKU, Azerbaijan, December 11. The European
Investment Bank (EIB) has approved a 50 million euro loan for
Zumtobel Group to support the development of innovative lighting
solutions, Trend
reports.
The funding will be allocated to R&D projects over the next
three years, contributing to the company’s total 191 million euro
budget. These projects, based at Zumtobel’s EU locations, aim to
enhance energy efficiency and connectivity in lighting systems for
smart buildings and cities.
The partnership aligns with EU sustainability and digitalization
goals, focusing on the creation of smart lighting components for
both indoor and outdoor use. The EIB has been a long-term financial
partner of the Austrian-based company, providing support for
innovation and growth since 2018.
Zumtobel Group’s CFO, Thomas Erath, emphasized the importance of
innovation in maintaining long-term success in the global lighting
market. He highlighted that the EIB loan will help bolster the
company’s position as a leader in lighting solutions and advance
its research efforts in the EU.
