Finnish marine power solutions company, Wärtsilä Corporation, has signed a 10 year loan agreement with the Nordic Investment Bank totalling $50m to fund research and development into energy efficient products.
The R&D loan agreement, which was signed in Helsinki, Finland on 13 February 2013, is part of Wärtsilä’s long term strategy for strengthening its technology in the global marine and energy markets.
The company will use the loan to further develop its portfolio of medium speed engine technology in terms of efficiency, reliability and environmental performance, as well as reducing lifecycle costs, in a bid to address the future challenges of tightening emission regulations.
Key areas it will focus on are four stroke engines, two stroke engines, propulsion and emissions abatement and energy efficient products, such as open loop, closed loop and hybrid exhaust gas cleaning systems.
The company’s Aquarius UV ballast water management system received type approval at the end of December 2012. Testing during 2012 also confirmed that its two stroke dual fuel engine technology will meet IMO tier III emission requirements without exhaust gas treatment systems.
