(AGENPARL) – mar 17 dicembre 2024 PRESS RELEASE2024-513-EN
Luxembourg/Copenhagen, 17 December 2024
Hearing-aid development to get a boost from €120 million EIB loan to Demant
European Investment Bank to support Demant A/S’ research, development and innovation investments to develop next generation hearing aids.
Financing this project strengthens European industry research and innovative capacity, and will contribute to technology advancement in the field of hearing aids.
The investments will take place in Denmark and Poland.
The European Investment Bank (EIB) will lend €120 million to Danish hearing-aid innovator Demant A/S in support of its investments in research, development and innovation (RDI) for new devices that can improve the quality of life for people suffering from hearing loss. Demant will use the EIB financing for its ongoing development of next generation hearing aids, building on its previous RDI programmes that were also co-financed by the EIB. This is the fifth such EIB financing to Demant since 2015, with the EIB having made available €455 million to advance the company’s innovation programmes.
“This investment is music to our ears.” said EIB Vice-President Ioannis Tsakiris. “Hearing aids play an important role in the wellbeing of many European citizens, not only through a reduction in hearing impairment-related illnesses, but also through higher social inclusion for those affected. Having EU-champions in this field is a major asset for European competitiveness and know-how.”
Demant’s research will continue the development of their portfolio of hearing aids by continuing to invest in Artificial Intelligence (AI), neural networks and other technologies to better approach natural hearing and minimise power consumption. The project will also support the further use of rechargeability and focus on connectivity.
Background Information:
The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%. Last year, the Bank made available over €1 billion in loans for Danish projects in various sectors including services, industry and SMEs.
Demant A/S is a world-leading hearing healthcare group built on a heritage of care, health and innovation since 1904. The Group offers innovative technologies, solutions and expertise to help people hear better. In every aspect, from hearing care and hearing aids to diagnostic equipment and services, Demant is active and engaged. Headquartered in Denmark, the Group employs more than 21,000 people globally and is present with solutions in 130 countries creating life-changing differences through hearing health. 
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