ABB and Export Development Canada (EDC), Canada's export credit agency, have signed a global partnership to promote investments in sustainable technologies and projects in Canada and around the world. The support provided by EDC, with a total limit of up to US$ 2.9 billion, will provide ABB's customers with financing and insurance solutions to strategic electrification and automation projects in the sectors of clean technologies, advanced manufacturing, digital technologies, and resources of the future. Commercial financing will be provided on a project-by-project basis and the partnership will initially run for three years.
The partnership aims to foster investments globally and locally in Canada both through ABB's customer projects and within the company's own operations. EDC will finance and provide insurance to customer projects across the ABB portfolio, from electrification, motion, process automation to robotics, and discrete automation.
A specific focus will be on strategic investments in technologies and solutions with growth potential, such as green hydrogen production, sustainable transport solutions or the electrification of today's fossil-based activities to reduce global greenhouse gas emissions. Collaboration with innovative Canadian start-ups is also an essential topic under the umbrella of the partnership with EDC.
"EDC is committed to supporting large multinational companies, like ABB, that have strong anchors in Canada and are focused on building an innovative, equitable and sustainable economy," said Sven List, senior VP corporate and international group, EDC. "Extensive capital is required to transition to more sustainable practices and develop greener products and services. Together we will play an important role in developing Canada's contribution to global sustainability and address pressing issues like climate change."
See the many solutions available from Export Development Canada on www.EDC.ca.