KONE Corporation, press release, July 14, 2025
KONE, a global leader in the elevator and escalator industry, is launching the KONE Renaissance program, a five-year research, development and innovation initiative to transform urban renewal through digital and sustainable modernization. The program is co-funded by Business Finland.
The purpose of the KONE Renaissance program is to revive existing buildings for low emission living and working. This collaborative effort will create a digital and sustainable ecosystem hub and bring together key industry stakeholders, research institutions, small and medium sized companies, and start-ups. The program will support the low carbon targets of cities by enabling adaptation, digitalization and decarbonization of existing buildings.
Urbanization, sustainability, and digitalization continue to shape the construction industry. By 2050, over six billion people are estimated to live in cities, and 80% of today's buildings will still be in use. * These buildings must be adapted to new demands such as aging populations, extreme weather, and energy efficiency. The construction sector, responsible for 40% of global energy-related emissions and 50% of natural resource consumption, urgently needs industrial-scale retrofitting and optimization solutions. **
The KONE Renaissance program aspires to make Finland a hub for digital and sustainable building renewal, enhancing export potential for the ecosystem and increasing R&D investments, patents, scientific publications, and university theses through co-research and co-innovation projects. Building competencies in circularity, decarbonization, and new business models will boost Finland's competitive edge at the European level.
"The KONE Renaissance program is launching at a pivotal moment. The demand for smart technologies and AI-driven solutions is rapidly increasing. Finland is well-positioned to lead in sustainable and digitally connected buildings, thanks to the local construction and real-estate ecosystem. KONE will drive research and development of innovative solutions and business models to the market on a global scale, both for KONE's own solutions and for the ecosystem," says Tomio Pihkala, Chief Technology Officer at KONE.
KONE aims to create a lasting impact beyond the Renaissance program's five-year horizon. The program will boost the Finnish technological know-how, which will create new competences and job opportunities and attract top talents to Finland.
* World Economic Forum, 2022
** Ministry of the Environment, 2024
For further information, please contact:
Gia Forsman-Härkönen, Head of Media Relations, KONE Corporation, tel. +358 50 324 3078, media@kone.com
About KONE Renaissance program
Business Finland has granted KONE a leading company grant (Veturi) and is planning additionally up to 50 million in grants to ecosystem partners over a five-year program. The Renaissance program will run during 2025-2029 and offers a scalable approach structured around two core streams: Research and competence building with research ecosystem, and Technology adoption and co-innovation with ecosystem partners. For more information on KONE's Renaissance program, please visit the KONE Renaissance site.
About Business Finland funding for leading companies
Business Finland, as a part of their Leading Company (Veturi) initiative, invites ecosystem partners to address society's pressing challenges through increased research, development and innovation investments in Finland and the European Union. Read more www.businessfinland.fi/en/leading.
About KONE
At KONE, our purpose is to shape the future of cities. As a global leader in the elevator and escalator industry, we move two billion people every day, making their journeys safe, convenient, and reliable with smart and sustainable People Flow®. In 2024, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees in close to 70 countries. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.
