• The global partnership between ABB and Export Development Canada (EDC), valued at up to $2.9 billion, will support ABB’s customers in debt financing of key electrification and automation projects worldwide

• As part of the three-year partnership, commercial financing will be provided on a project-by-project basis

• The partnership recognizes ABB’s significant presence in Canada, its contribution to driving innovation in key sectors of the future and providing economic benefits that extend well beyond its operational footprint

ABB and Export Development Canada (EDC), Canada’s export credit agency, have signed a global partnership to promote investment in sustainable technologies and projects in Canada and around the world. The support provided by EDC, totaling up to $2.9 billion, will provide ABB’s customers with financing and insurance solutions for strategic electrification and automation projects in clean technologies, advanced manufacturing, digital technologies and resources of the world future . Commercial financing is provided on a project-by-project basis and the partnership initially runs for three years.

Timo Ihamuotila, ABB CFO, said: “I am very pleased with our partnership with EDC and their trust in ABB as a global technology leader in electrification and automation.” This partnership enhances our value proposition to customers and is fully in line with ours The aim is to enable a more sustainable and resource-efficient future. It offers our customers and us the opportunity to further invest in sustainable technologies and thus actively contribute to achieving decarbonization goals in various industries.”

The partnership aims to drive investment globally and locally in Canada, both through ABB customer projects and within the company’s own operations. EDC will finance and insure customer projects across the ABB portfolio, from electrification, motion, process automation to robotics and discrete automation.

“EDC is committed to supporting large multinational companies like ABB that have strong roots in Canada and are focused on building an innovative, equitable and sustainable economy,” said Sven List, Senior Vice President, Corporate and International Group, EDC. “Significant 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 addressing pressing issues such as climate change.”

A particular focus will be on strategic investments in technologies and solutions with growth potential, such as the production of green hydrogen, 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 important topic in the partnership with EDC. With over 100 years of technological innovation in Canada, ABB’s success in Canada is driven by 3,100 talented employees in 29 locations from coast to coast.

FIG is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions combine technical expertise and software to optimize the way things are made, moved, powered and operated. Building on more than 140 years of excellence, ABB’s approximately 105,000 employees are committed to driving innovation that accelerates industrial transformation. www.abb.com

About EDC
Export Development Canada (EDC) is a government finance company dedicated to helping Canadian companies make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they move from local to global. Together, EDC and Canadian businesses are building a wealthier, stronger and more sustainable economy for all Canadians.