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.