Mining and industrial equipment maker Sandvik has secured €500 million in financing from the European Investment Bank (EIB) to accelerate the development of next-generation electric and sustainable heavy machinery, strengthening its long-term research and development program in Europe.
The EIB, the lending arm of the European Union, said the funding is intended to support innovation, competitiveness and sustainability across Sandvik’s equipment portfolio. The loan carries a seven-year maturity and will be used across the group’s business lines to advance productivity, safety and electrification technologies.
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Sandvik has been developing battery-electric and low-emission equipment largely through internal investment in recent years. The new financing marks a significant expansion of that effort as manufacturers face growing pressure from customers and regulators to decarbonise industrial operations, particularly in energy-intensive sectors such as mining.
“We have a strong strategic focus on developing solutions that strengthen our technology leadership, and that enhances productivity, safety and sustainability for our customers,” Sandvik President and Chief Executive Stefan Widing said. “The EIB financing supports our R&D initiatives and provides flexibility to our overall funding strategy.”
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The EIB has increasingly targeted large-scale industrial projects tied to climate and energy transition goals, providing lower-cost capital to companies undertaking long-term research programmes within the EU. Sandvik’s investment is expected to focus on advanced electrified machinery, automation systems and digital solutions aimed at reducing emissions and improving operational efficiency in mining and construction environments.