©GN Store

The European Investment Bank (EIB) and GN Store Nord, a Danish company specialised in hearing aids and headsets, have signed a EUR 100 million loan agreement. The EIB financing will support the company’s research and development programme for new hearing aids to enable people with hearing loss to hear more, do more and be more throughout their life.

In particular, the project will support GN’s development of next-generation hearing aids with a focus on further strengthening its hardware and software solutions and capitalising on its recent industry breakthrough in cloud technology. Earlier this year, GN announced ReSound LiNX 3D – the world’s first hearing aid with comprehensive remote fine-tuning capabilities that allows users to stay in touch with their hearing care professional wherever they are, receiving hearing care and getting new settings via the cloud without having to book and travel to a clinical appointment.

This new backing from Europe’s long-term lending institution will help the company to further increase the convenience and usability of its wireless hearing aids, helping to improve the quality of life of hundreds of millions of people.

EIB Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries said: ”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.”

Marcus Desimoni, CFO of GN Store Nord, stated: “We at GN are making life sound better – this is what we do, and what our products and solutions do for our users. Our Smart Hearing solutions are already best-in-class, but we constantly strive to push the boundaries of what is possible. The loan from the EIB will support our next scientific breakthroughs that will further improve the quality of life of hearing aid users everywhere in the world.”

As a technology and innovation leader GN Store Nord – via its subsidiary GN Hearing – originally spearheaded the world’s first commercially available hearing aids with digital sound processing. GN was also first to utilise 2.4 GHz wireless technology in hearing aids and introduced the world’s first Made for iPhone hearing aid with direct stereo sound streaming. Today, GN Hearing’s technologies provide hearing aid users with supreme spatial sound together with seamless connectivity to a full range of wireless accessories including smart phones and tablets, giving users unprecedented control over their hearing experience.