• The global partnership between ABB and Export Development Canada (EDC), valued at over $2.9 billion, will support ABB customers with debt financing for their most important electrification and automation projects worldwide

• Commercial financing is offered on a case-by-case basis within the framework of a three-year partnership

• The partnership recognizes ABB’s significant presence in Canada, its contribution to driving innovation in key sectors of the future and delivering 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 offered by EDC, with a total limit of US$2.9 billion, will provide ABB customers with financing and insurance solutions for their strategic electrification and automation projects in the areas of clean technologies, advanced manufacturing, digital technologies and future resources. Commercial financing will be offered on a case-by-case basis, with the partnership initially running for three years.

Timo Ihamuotila, Chief Financial Officer of ABB, commented: “I am very pleased with our partnership with EDC and the trust they place in ABB as a global technology leader in electrification and automation. This partnership enhances our value proposition to customers and fits perfectly with our goal of promoting a more sustainable and resource-efficient future. It offers both us and our customers the opportunity to further invest in sustainable technologies and thus actively contribute to achieving our decarbonization goals across various industries.”

The goal of the partnership is to encourage investment globally and locally in Canada, both through ABB customer projects and within the company’s own operations. EDC will finance and provide insurance to customer projects across the ABB portfolio, be it electrification, motion, industrial automation or robotics and intelligent automation.

“EDC is committed to supporting large multinational companies like ABB that have strong roots in Canada and are focused on building a fair and sustainable economy,” said Sven List, Senior Vice President, Large Companies Canadian and International Companies, EDC. “It takes significant capital to transition to more sustainable practices and develop more environmentally friendly 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 green hydrogen production, sustainable transport solutions or the electrification of activities that currently use fossil fuels to reduce greenhouse gas emissions globally. Collaboration with innovative start-ups in Canada will also be a key theme in the partnership with EDC. With a rich history of more than 100 years of technological innovation in Canada, ABB’s success is possible thanks to its 3,100 talented employees in 29 locations from coast to coast.

ABB is a technology leader in electrification and automation, driving a more sustainable and resource-efficient future. The company’s solutions combine engineering expertise and software to optimize the way things are made, transported, powered and operated. With more than 140 years of excellence, ABB and its approximately 105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com

About EDC
Export Development Canada (EDC) is a Crown finance corporation whose mission is to help Canadian companies gain influence at home and abroad. EDC has the financial products and financial 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 companies are building a more prosperous, stronger and more sustainable economy for all Canadians.