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The project will finance expenditures in Research, Development and Innovation (RDI) at the promoter's research and development centres in Sweden, Germany and France in the period 2025-2028.
The project supports RDI activities in hygiene and health sectors that target consumer well-being. It aims to generate positive knowledge, technology and environmental externalities, through the creation of innovative products and processes and skills development. It intends to strengthen the competitiveness of a global player with strong European roots. The project is striving to make further advances with regards to the company's climate action and environmental sustainability goals and supports the shift to a sustainable and circular society.
The project supports research, development and innovation (RDI) activities in the EU that target consumers' well-being and generate significant positive knowledge and environmental externalities through the creation of innovative processes, products or services, and skills development and upgrading of the hygiene and health sector. The financing of this project addresses the market failure that triggers suboptimal investment in the RDI of the health and hygiene industry. It also addresses information asymmetries linked to the inherent uncertainty of RDI activities. The project is expected to have important positive knowledge spillovers through R&D cooperation with academia and industry partners. Positive environmental spillovers are through the development and manufacturing of products using less natural resources, substituting the use of plastics, and reducing GHG emissions. The project furthers the advancement of the EU industry's technological leadership. In addition, the project contributes to the EU Green Deal and is aligned with the Bank's climate action and environmental sustainability objectives, the EU Bioeconomy Strategy and the EU Circular Economy Package. EIB's contribution to the project stems from the combination of a financial advantage, flexible terms of the loan, and helping to crowd-in other financiers, thereby facilitating its full financing and implementation.
The RDI activities are expected to be carried out in existing, already permitted, facilities that are already used for the same purposes and that are not expected to change their scope due to the project. It is unlikely that the project or any subcomponent of it will require an Environmental Impact Assessment as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The Bank's services will review the environmental aspects of the project during the due diligence process.
Although the promoter is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement, the Bank will require the promoter to ensure that any procurement procedures are done in accordance with the relevant applicable EU procurement rules.