Grundfos and EKF sign unique financing partnership agreement
The agreement is the first of its kind in the pump manufacturing industry
Grundfos, a global leader in advanced pump solutions and water technologies, and EKF Denmark’s Export Credit Agency have entered into an agreement enabling Grundfos to finance projects globally for private commercial and public customers with limited funds available.
The agreement is the first of its kind in the pump solutions industry. It creates new opportunities for Grundfos to finance projects that will further access to water and optimised use of water resources. Moreover, it can help customers meeting their ambitions for reduced carbon emissions.
“We are thrilled to partner with EKF, which is allowing us to offer this new financing opportunity to our customers in need of financial support to realise their ambitions within water. The agreement accelerates the process of equipping customers and end-users with solutions that reduce CO2 emissions and provides access to clean water to vulnerable areas,” says Grundfos CFO, Mikael Geday.
Under the agreement, private commercial and public customers can receive financing on projects above 0.5m EUR for up to five years directly through Grundfos. EKF will provide Grundfos a credit guarantee covering 50% of the credit exposure significantly reducing the risk in financing such projects.
“We are thrilled that in collaboration with Grundfos, we have established an entirely new approach which will make it easier for Grundfos´ worldwide customers to obtain financing for purchase of new pump and water solutions as well as helping the company reduce the risk involved. This is an example of EKF´s pragmatic contribution to the global green transition,” says Peder Lundquist, CEO of EKF Denmark´s Export Credit Agency.
