- MERMEC's EIB-financed research, development and innovation activities aim to develop high-tech signalling, diagnostics, maintenance and railway infrastructure asset management solutions.
- The agreement was signed on the side-lines of an event held in Matera promoting EIB financing opportunities for businesses in the Puglia and Basilicata regions of Italy.
- This is the second EIB loan granted to MERMEC.
The European Investment Bank (EIB) is providing €30 million to support the research, development and innovation activities of MERMEC Group, an Italian multinational headquartered in Monopoli and a world leader in the design and development of integrated diagnostics, signalling, and railway, metro and tram infrastructure maintenance solutions. The agreement was signed by EIB Vice-President Gelsomina Vigliotti and MERMEC Group Chief Financial Officer Michele Costa on the side-lines of an event in Matera organised by the EIB and Confindustria Puglia e Basilicata to promote EU bank financing opportunities for businesses in the Puglia and Basilicata regions.
The agreement announced today covers initial financing of €20 million of a total of €30 million approved by the EIB, and aims to help MERMEC to develop innovative signalling platforms for driverless trains, and advanced solutions for more efficient diagnostics, rolling stock maintenance and railway infrastructure. The EIB resources will also enable MERMEC to develop solutions for the integrated management of railway assets via remote data use. The new solutions will apply advanced connectivity technologies, cloud computing and artificial intelligence to increase the efficiency of diagnostics and maintenance, as well as improving rail transport safety and sustainability. The research, development and innovation activities will take place in Italy between 2023 and 2025.
EIB Vice-President Gelsomina Vigliotti said: “EIB financing will enable MERMEC to develop innovative high-tech solutions to improve rail system reliability, safety and efficiency.”
MERMEC Group Chief Financial Officer Michele Costa added: “This operation confirms MERMEC Group’s wide-ranging commitment to invest in research and development, promoting sustainability and innovation in the rail sector and creating economic, social and environmental value. This agreement not only strengthens our ability to make this vision a reality, but also confirms the key role of international financial institutions in accelerating positive change.”
Background information
European Investment Bank (EIB)
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided €45 billion in financing for projects in Italy.
MERMEC
MERMEC Group is a world leader in the development of advanced rail transport technologies (signalling, measurement trains and systems, electric traction and telecommunications) and industrial applications. It headquarters are located in Italy, with branches, offices and facilities in 21 countries providing project management services, sales support and technical assistance to its customers worldwide. With around 1 400 highly skilled employees (1 000 of whom are engineers), MERMEC's unparalleled technical expertise has enabled it to develop and market a well structured portfolio of advanced solutions currently in use in 71 countries across the world.
Founded in 1970, MERMEC Group is part of ANGEL, an Italian private high-tech holding company including some of the most innovative businesses in the transport, aerospace and digital mechatronics sectors.