EPTA SUSTAINABLE REFRIGERATION

The project concerns the Promoter's investments in research, development and innovation (RDI) on products and processes, as well as deployment of advanced manufacturing technologies and digitalisation. The project's costs will be incurred primarily in Italy and, to a minor extent, in France over the period between 2023 and 2026.

The project aims at developing new products with reduced environmental impact, with increased use of recycled material and that are easier to recycle, that make use of natural refrigerants, more efficient and with higher digital content to allow for further energy saving. Deployment of technology aims at improving the Promoter's manufacturing capacity and efficiency through digital transformation of processes and the installation of advanced machinery and equipment.

The Project will allow the Promoter's to develop and produce energy-efficient and customer centric refrigeration solutions, benefiting from of Advanced Manufacturing Technology (AMT) and digitalisation to increase productivity and strengthen its competitive edge.

The Project will contribute to developing the Promoter's knowledge and expertise in the field of refrigeration. The results of the RDI activities will develop sustainable product solutions, which will allow the Promoter's clients to reduce their operating cost and to make use of more sustainable products.

The Promoter's investments will accelerate the accumulation and diffusion of knowledge within the European industry through the Promoter's collaboration with industrial partners, research institutes and academia and through the Promoter's active Intellectual Property strategy.

The Project is eligible for financing under the EIB's "Innovation, Digital and Human Capital" Public Policy Goal sub-objective Research, Innovation and Digital (RID).

The Project, by supporting the Promoter's investments in RDI, manufacturing and digitalisation supports technologies that prevent food waste primarily in the Retail sector and thus contributes to the EIB Climate Action and Environmental Sustainability (CA&ES) policy objective.

The investments to be financed are expected to support the EU policy priorities under Horizon Europe Cluster 6.

The financing of this Project supports activities that generate significant positive knowledge, technology, and environmental externalities, through the creation of innovative products and services and skills development and upgrading. The financing addresses the market failure of imperfect competition, as it contributes to expanding the competitive space for new product technologies.

The proposed operation satisfactorily meets the funding needs of the promoter providing additional flexibility in terms of longer tenors (particularly given the current tighter liquidity in the banking sector) and lower cost of funding. The EIB funding is expected to improve the promoter financial structure by spreading out its repayment profile, reducing the cost of newly incurred indebtedness as well as diversifying its funding base.

The project consists of RDI activities and capital investments that are not listed in any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU. The environmental details will be verified during the project appraisal.

The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.