Summary sheet
The project will finance the promoter's research and development (R&D) activities and related direct investments, including digitalisation measures in Austria over the period 2025 - 2028.
The aim is to support the promoter's long-term competitiveness by creating innovative rolled and cast aluminium products that meet customer requirements and key industry trends, while also increasing the productivity of their manufacturing processes. If successful, the outcome of the R&D activities will bring positive environmental and climate impacts, such as fossil fuels substitutes and increased circularity.
The Project is in line with the InvestEU objectives of "research, development and innovation (RDI)" and "digital technologies and services", it also fully contributes to the EIB's core strategic priority "Digitalisation and Technological Innovation" (TechEU) and supports the Bank's Public Policy Goal 'Innovation, Digital and Human Capital - Research, Innovation and Digital'. The Project primarily concerns private sector RDI of a mid-cap company mainly active in aluminium rolling and casting.
The Project is aligned with the objectives of the European Critical Raw Materials Act (CRMA) and will contribute to increase the EU's resilience to meet the demand for Aluminium used in Strategic Net-Zero Technologies.
The Project addresses the market failure for RDI, arising from (i) limited access or higher cost of financing as a result of factors such as information asymmetries, uncertainty linked to R&D activities. In addition, it addresses market failures such as (ii) environmental externalities from emissions, pollution and consumption of primary resources. The Project is important to sustain the Promoter's long-term competitiveness. The Project generates positive externalities such as (i) lower emissions deriving from innovative products and processes with a lower environmental footprint, higher resource efficiency or higher energy efficiency from lightweight transport; and (ii) knowledge creation and sharing thanks to the co-development with customers and the collaboration with scientific partners. Finally, the Project supports innovation in the strategic EU metals industry, which is critical to achieve the EU's decarbonisation strategy and transition towards sustainable transport.
The EIB's contribution to the Project is underpinned by a combination of advantageous terms, a meaningful loan amount as well as a signalling effect in terms of confidence in the business model, thereby facilitating the Project's financing and full implementation. The Project would not have been carried out to the same extent by the EIB without the InvestEU support.
The R&D activities will be carried out in existing R&D and manufacturing facilities without changing their authorised scope. Therefore, they are not expected to require an Environmental Impact Assessment (EIA) or screening decisions under the directive 2014/52/EU amending directive 2011/92/EU. The digitalisation measures also do not require an EIA or a screening decision.
The promoter is a private company not operating in the utilities sector and does not have the status of a contracting authority. It is thus not subject to EU rules on public procurement.