Wärtsilä will invest approx. €200m in setting up a completely new centre of research, product development and production in Vaskiluoto in the Finnish Vaasa, due to come online in 2020.

As part of the investment, the company will spend €83m on a modern testing and production technology for the Smart Technology Hub. The new facility will be chiefly concerned with the development of solutions for the maritime, oil & gas, and energy industries.

"Constant renewal is in Wärtsilä's DNA. This company was established in 1834 as a sawmill in the village of Värtsilä in Tohmajärvi, and now it is the global leader in smart technology and complete lifecycle solutions for the marine and energy markets. The Vaasa Smart Technology Hub represents another generational shift for us - it will bring Wärtsilä's expertise into a whole new realm," Jaakko Eskola, President & CEO, Wärtsilä, commented.

Wärtsilä will also invite other operators in the sectors and researchers to collaborate within the Smart Technology Hub. The vision is to create a partner campus where research and product development take place together with Wärtsilä's customers and suppliers, start-ups in the sector, and universities.

Vesa Riihimäki, Managing Director, Wärtsilä Finland, said in this regard, "Amazing ideas do not just appear out of thin air. By bringing together experts from different walks of life - both from business and from the university world - we will build an inspiring environment for new creativity."

In addition, later this year, in autumn, the Wärtsilä Helsinki Campus in Salmisaari will be completed.

Photo: Wärtsilä