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Investment


Aggreko leads by example with £4.5m Net Zero investment
With many data centres turning to Aggreko for help bridging the gap during their own energy transition, the temporary power solutions company is now putting its money where its mouth is with a £4.5million upgrade to its production facility in Scotland. As part of Aggreko’s industry-leading Net Zero strategy, the site will turn into a future energy hub, replacing all diesel with low-emission HVO (Hydrotreated Vegetable Oil) as well as exporting surplus power generated during production tests of next generation gas gensets back to the national grid. Smart battery storage systems and LED lighting systems will also be used to make the use of energy at the facility more efficient. The investment and plans form part of the Aggreko’s commitment to achieve Net Zero emissions from its own operations by 2030 – something the business has been supporting customers with since 2019. Aggreko has significantly invested into a plethora of research and insights to better-understand industry’s paint points and divers when it comes to Net Zero targets, as well as investing in the latest green technology to facilitate change. Rolling out a significant project of this magnitude was a natural next step for such work. With leading players in the European data centre and cloud infrastructure industry agreeing to take firm steps to make their data centres climate neutral by 2030, this project could not be more pertinent for a major supplier to the sector. The scheme includes the acquisition of land at Lomondgate Park next to the existing site, which is owned by Strathleven Regeneration CIC (SRCIC). Construction started in November 2020 and represents an investment of £4m with local firms, bringing over 300 employees together in a campus environment which will add a state-of-the-art rental depot to the existing manufacturing site. Aine Finlayson, Director of Manufacturing at Aggreko, says: “Our Dumbarton facility sits at the heart of everything we do around the world, and is driven by the amazing team of people who work there. This investment is a demonstration of our commitment to our team and the local area, and making sure that we’re continuing to produce the high-quality, reliable and greener products that our customers expect. We continue to look for ways to enhance the value that the site brings to the business and the local community. Scotland is on an exciting journey towards Net Zero and we want to be part of that.” Chris Rason, Managing Director of Aggreko, says: “I’m incredibly proud to see what our colleagues are about to achieve with our own facility in Dumbarton. It demonstrates a true commitment to the work we are enabling our own customers to achieve throughout the UK’s ambitious energy transition. Hopefully this will give them an additional boost of confidence that they are in expert hands.” Aggreko’s Lomondgate facility develops modular power, storage and temperature control solutions which are used across the world to support projects in key sectors including data centres, construction, manufacturing, utilities, mining, and at events including Glastonbury Festival and the Super Bowl.

NIB financing Nokia’s 5G research and development program
The Nordic Investment Bank (NIB) and the Finnish multinational telecom company, Nokia, have signed a loan agreement totalling €250 million to finance research and development activities related to 5G mobile technology. The loan, which has an average maturity of approximately 5 years after disbursement, is set to finance Nokia’s extensive research and development programme focused on fifth-generation (5G) activities in Europe in 2018–2020. The investment will be concentrating on developing new 5G-related end-to-end product offerings for different business areas. 5G is the next generation of wireless systems beyond the current 4G standards, providing a substantial increase in network capacity, reducing latency delays and enabling network slicing. Network slicing gives network operators greater ability to differentiate their services to match clients’ needs. Nokia says its 5G research and development program also focuses on the implementation of the IoT machine-type communication between the thing’s humans have invented. In practice, this means a network of different devices, such as home appliances, vehicles and other electronics, being able to exchange data wirelessly. “The business opportunities of 5G are numerous, as it will be the first mobile generation designed from the beginning for machine-type communication. Nokia’s research and development is likely to benefit not just the telecom sector, but also several high-technology operators in our member countries,” says Henrik Normann, NIB president & CEO. "We are pleased to receive this financing commitment from the NIB, which shares our view of the revolutionary nature of 5G. This financing will further support 5G research and development in Europe and it bolsters the momentum we have already seen this year as the era of 5G begins," adds Kristian Pullola, CFO, Nokia.



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