Prysmian Group has secured a €120m loan from Cassa Depositi e Prestiti (CDP) to support its research and development plans.
These will focus on the implementation of innovative technologies, including the development of dynamic cables for offshore projects, contributing to strengthening digitalisation processes, while cutting emissions to facilitate the energy transition.
The proposals will have particular reference to Italy, France, The Netherlands, Spain and Germany for the 2021-2024 period.
The innovative materials research will range from the use of nanotechnology to new sustainable materials and solutions, management of low-voltage power grids and systems, and hybrid cables for the energy and telecommunications sector.
Testing covers the use of alternative materials for cable design to advanced cable operation technologies, while new product development ranges from dynamic cables for offshore renewable energy to high-performance optical fibre, e-mobility cable solutions and design of sensors for localising, monitoring and managing power grids.
Prysmian’s digital transformation and sustainability will encompass implementation of digital solutions for machine learning and artificial intelligence to the development of sustainability impact assessment models.
The development of the R&D activity carried out by Prysmian is also in line with the Paris Agreement, and the European Green Deal and Horizon Europe directives for the promotion of clean, renewable energy, ensuring the interconnection of integrated systems of renewable resources through cable systems.
The new resources granted to the Group are part of a long-standing collaboration between CDP and Prysmian Group and confirm the commitment of CDP to supporting Italian companies in their growth, expansion, and technological and digital development plans.
CDP head of corporate and financial institutions Andrea Nuzzi said: “This transaction confirms the important role of CDP in supporting an Italian Group that is among the global leaders of its industry and invests considerably in research and development to continue its innovation journey.”
Prysmian group finance senior vice president Giovanni Zancan said: “The new loan, with a 6-year maturity, further strengthens the whole Group’s financial structure.
“We are extremely satisfied with CDP’s ongoing support and trust.”