BALLERUP, DENMARK — The GN Store Nord, parent company of GN ReSound, announced that it has signed an agreement with the European Investment Bank (EIB) for a €100 million loan agreement to support the company’s research and development into new hearing aids. Specifically, the company said the investment will focus on “strengthening its hardware and software solutions” as well as the company’s use of cloud technology that is utilized by the company’s recently launched Linx 3D hearing aids.
Support from Europe’s long-term lending institution, the EIB, will help GN further increase the convenience and usability of its wireless hearing aids.
“Supporting investment that is geared towards innovation, skills and greater competitiveness is part of the EU bank’s mission to foster sustainable growth and jobs in Europe. We are proud to support GN Store Nord’s research and development, which can change the life of so many: hearing aids that are more ergonomic with connectivity to stream music and podcasts will surely help to remove the stigma that these aids sometimes have and even make them fashionable.” –Alexander Stubb, Vice President of EIB operations in Northern Europe
According to company CFO, Marcus Desimoni, the loan from the EIB will support further scientific and technological breakthroughs that will “further improve the quality of life of hearing aid users everywhere in the world.”
Source: GN, EIB