EIB approves loan for Xylem’s research and development project in water industry

The European Investment Bank (EIB) has announced that it will provide a loan of $158m (€120m) to Xylem, in support of its research and development (R&D) projects across Europe.

The loan will be used to financially support Xylem’s R&D in four main areas: water and wastewater treatment solutions, flow control equipment, analytical instruments, and water applications and pump systems for residential, commercial and industrial uses.

EIB vice-president Jonathan Taylor said that the financing will enable Xylem to enhance knowledge and expertise in the field of water and wastewater handling technologies over the next two years.

In addition to developing innovative and sustainable products, the new programme involves services for biological water treatment, desalination, filtration and disinfection, as well as enhancing the control of such processes.

Xylem’s president and CEO Gretchen McClain said, "As global leaders in water, our mission is to play a leading role in solving the multifaceted issues we all face in securing a sustainable water supply."

Additionally, Xylem’s R&D activities are expected to further promote biofuel recovery as a by-product of the wastewater treatment process, by developing sustainable solutions that can reduce energy consumption and increase reuse of scarce resources.

The company is expected to receive the loans in 2013 to 2014, and will carry out the work at its facilities in Sweden, Germany, Italy, the UK, Austria, Norway and Hungary.

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Image: EIB VP Jonathan Taylor and Xylem VP and treasurer Samir H. Patel. Photo: courtesy of European Investment Bank.