The European Investment Bank (EIB) has approved a โฌ300 million financing package for Prysmian. The funding will support Prysmianโs European research and development activities from 2025 through 2028.
Prysmian has already signed the first โฌ200 million tranche, according to a company press release. The company will use the financing to develop high-performance, low-emission cable solutions. Prysmian said the R&D program will improve the reliability, resilience, and security of both power and telecom networks. It will also aim to reduce overall carbon emissions.
The EIB structured the credit line to support Prysmian laboratories across Europe. The program will fund work in Italy, France, Germany, the Netherlands, and Spain.
EIB Vice-President Gelsomina Vigliotti said the investment supports projects that improve network efficiency and sustainability. She added that the EIB remains committed to accelerating the energy transition and digital transition. The effort also supports key EU goals under REPowerEU and TechEU.
Prysmian said the agreement aligns fully with the REPowerEU framework. It also supports TechEU, the EIB Groupโs โฌ70 billion investment program for 2025โ2027. That initiative aims to mobilize up to โฌ250 billion in real-economy investments.
Prysmianโs Chief Sustainability, Innovation and R&D Officer, Srinivas Siripurapu, said Europe remains central to Prysmianโs R&D strategy. He pointed to the companyโs Global R&D Center in Milan as a key driver of innovation. Siripurapu also said Prysmianโs โAccelerating Growthโ strategy targets 55% of revenues from sustainable solutions by 2028. He added that EIB support will help strengthen progress toward that goal.
