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The promoter is an innovative Danish scale up at the brink of revolutionising the whole optics industry. This project finances its research and development (R&D) activities to further develop its proprietary technology, supporting its business growth and market penetration in the area of flat optics (nano optics), while moving into mass production.
The aim is to support the company's transformation from a high precision optical technology provider into a vertically integrated producer of optical solutions. The project will generate significant positive externalities by creating innovative processes, products and services. It will also support skills development, in particular in the area of nano-optics, directly supporting the creation of circa 100 Full-Time Equivalent (FTE) positions in high-skilled technology roles, hence contributing to economic activity and competitiveness.
The proposed operation is addressing the Future Technologies Main Policy Priority Area under the InvestEU Research, Innovation and Digitalisation Window (RIDW), and more specifically key enabling technologies in the area of nano imprinting lithography for optical component design and manufacturability using nanotechnologies.
This project is very innovative and transformative, encompassing the design and prototyping of advanced nano-optics elements using highly customised, nano-scale processing technologies to address performance and size pain points of conventional optics. Coupled with AI capability these technologies aim to disrupt current, state of the art optics value chain in consumer electronics, automotive, industrial products and applications.
The EIB investment supports an EU-based technology firm with the potential to become a leader in the advanced optics space. The Venture Debt financing complements VC funding and provides first access to venture debt for the company.
The EIB's participation has had a positive signalling effect, crowding in more equity funding to NILT. The innovative financing package provided by EIB is tailor made to the needs of the company poised to launch mass production in nano optics.
The promoter has committed to the UN Global Compact corporate responsibility initiative and has developed their own Environment, Health, and Safety policy ensuring compliance with all local national laws in which the company operates. The technology introduced by the promoter allows simplification of the design of optical modules, reducing size and therefore requiring less use of raw material making the production more resource efficient and the product sustainable of natural resources. In line with the EU regulatory framework, the PATH framework applies to medium-sized or large corporates and significant intermediaries and does not apply directly to small and medium-sized enterprises (SMEs). The EIB Group Climate Bank Roadmap already sets out a clear alignment framework for SMEs (par. 4.22), and it is sector aligned under Industry, RDI.
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not being subject to EU rules on public procurement or concessions.