3/4/2022 –The Prysmian Group focus on speeding up innovation in the areas of ultra-rapid telecom networks and smarter, more sustainable power grids has been bolstered by financial support from the European Investment Bank (EIB), which has previously made available such funds.

A press release said that the EIB has finalized financing of €135 million intended to support the Group’s 2021-2024 R&D plans in Europe. That support is greatly appreciated as it will help the Prysmian Group’s R&D efforts. “Cable technology is a key enabler to face the challenges of digitalisation and energy transition,” said Srini Siripurapu, Chief R&D and Innovation
Officer Prysmian Group. The specific areas where the EIB support will make a difference include the following.

• Industrial research: research on innovative materials also involving the use of nanotechnologies, systems for the monitoring and management of land and submarine power grids and of low voltage power systems, new cables and materials for more sustainable solutions and hybrid energy and telecom cables.
• Innovation and experimentation: the use of alternative materials for cable design and product project optimisation, use of breakthrough technologies to execute cable jointing operations.
• New products development: submarine power transmission cable systems for installation at high depths; P-Laser Extra High Voltage land and submarine power transmission cable systems; dynamic cables for the offshore renewable energies sector; cable solutions for the e-mobility industry; high-performance optical fibres, cables for FTTH and FTTA applications, and connectivity; development of smart cable systems and sensing solutions for fault location, monitoring and management of power grids.
• Digital transformation and sustainability: development of machine learning and artificial intelligence solutions for enhanced quality in cable manufacturing process, and implementation of digital solutions for the management of operations from remote also through the use of IoT Industry 4.0 technologies and deployment of innovation data management software for a better on-going project portfolio management; development of data models for the continuous evaluation of sustainability impact of a Green IT Strategy and for the assessment of the sustainability of the product portfolio.

The new projects fulfill the goals set within Prysmian Group’s innovation roadmap and strategy, strongly oriented towards the support and promotion of digitalization and the energy transition.

Cable technology is a key enabler for electrical power transmission and distribution and for the development of telecommunications in Europe. Innovative solutions in these areas are a critical component to promote digitalization and the energy transition, thanks also to the expansion of 5G networks and the surge in renewable power installations, that could be interconnected via sustainable and innovative cable links.

The financing represents approximately 50% of the investments planned in Europe during the period concerned. Worldwide, Prysmian Group allocates approximately €100 million per year to R&D. This financing follows those already granted by the EIB to the Group in 2013 and in 2017, also in support of R&D in Europe, a sign of the trust that the company enjoys with the Bank.

“The agreement signed with Prysmian aims at developing technological innovations via cable based on sustainability criteria in order to reduce the consumption of raw materials, the generation of waste and CO2 emission,” said EIB Vice President Gelsomina Vigliotti. “Supporting the cabling sector helps to strengthen economic, social and territorial cohesion and to promote the energy and digital transition in Europe.”