The European Investment Bank (EIB) has signed a €500 million loan with Sandvik, a Swedish engineering group and global leader in mining and manufacturing technology, to back its research and development work from 2026 to 2029, the Bank said in a recent statement. The funding will help Sandvik develop new cutting tools, battery-electric mining equipment, and digital solutions for automated mining and rock excavation.
Most of the R&D will take place in Sweden, Finland, and Germany, where Sandvik is working on next-generation technologies to make industrial operations safer, more productive, and more sustainable.
“Europe’s industrial edge depends on steady investment in innovation and advanced manufacturing,” said Karl Nehammer, EIB Vice-President for operations in Sweden and Finland. “Sandvik is a global tech leader, and this financing will help speed up the shift to automated, digital, and sustainable solutions that strengthen Europe’s strategic independence.”
The deal marks the latest chapter in a long partnership. EIB has backed four previous Sandvik R&D programs since 1999.
“We’re focused on developing solutions that improve productivity, safety, and sustainability for our customers,” said Sandvik CEO Stefan Widing. “This financing supports our long-term research goals and gives us more flexibility in our overall funding strategy.”
The loan aligns with several EIB priorities, including digital and tech innovation under the TechEU program, access to critical raw materials, and broader goals around cohesion, climate action, and environmental sustainability. By backing Sandvik’s push into cleaner, smarter industrial tech, EIB is betting on solutions that can make Europe’s supply chains more resilient and less carbon-intensive.
