Luxembourg and Munich, Germany --- (METERING.COM) --- January 20, 2012 - The European Investment Bank (EIB) is supporting a development project to be carried out by BSH Bosch und Siemens Hausgeräte GmbH (BSH) on the energy efficiency of appliances such as washing machines, driers and refrigerators, with the aim to lower domestic electricity consumption and reduce water consumption.
The EIB is involved in financing the project with a €300 million loan.
BSH is a market leader in the field of resource saving domestic appliances. The company carries out research and development (R&D) in five locations in Germany, investigating the potential for improving energy efficiency and saving resources across a wide range of domestic appliances.
Energy efficiency will play a crucial role in attaining the European Union’s energy and climate objectives. With the Europe 2020 program, the Union has set itself the target of increasing energy efficiency by 20 percent, reducing greenhouse gas emissions by 20 percent (compared to 1990) and raising the share of renewable energy to 20 percent by 2020.
“Energy efficiency is the easiest way to reduce energy consumption and carbon dioxide emissions,” commented EIB vice-president Matthias Kollatz-Ahnen. “BSH, with its expertise in superefficient domestic appliances, promotes pioneering industrial research and development. In this way it makes an important contribution towards meeting the EU’s 2020 objectives and the particularly ambitious German climate objectives.”