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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
The Netherlands : € 6,900,000
Denmark : € 143,100,000
Industry : € 150,000,000
Signature date(s)
31/07/2020 : € 2,300,000
8/12/2017 : € 4,600,000
31/07/2020 : € 47,700,000
8/12/2017 : € 95,400,000

Summary sheet

Release date
17 October 2017
Status
Reference
Signed | 08/12/2017
20170615
Project name
Promoter - financial intermediary
GN STORE NORD ACOUSTIC TECHNOLOGY RDI II
GN Store Nord A/S
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 210 million
Location
Sector(s)
Description
Objectives

The project relates to the promoter's ongoing expenditures on Research, Development and Innovation (RDI) in Denmark, for the improvement of its portfolio of hearing aids and acoustic devices. In particular, the project will include the continued development of its next generation chipset and new product platforms to address the needs of its current and future market.

Financing of GN Store Nord's research, development and innovation in the area of acoustic hearing devices.

Environmental aspects
Procurement

The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and are not expected to change their scope due to the project. An Environmental Impact Assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.

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 after the project appraisal the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - GN STORE NORD ACOUSTIC TECHNOLOGY RDI II
Publication Date
22 Jan 2018
Document language
Main Topic
Lending
Document Number
78749682
Document Focus
Environmental Information
Project Number
20170615
Sector(s)
Regions
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - GN STORE NORD ACOUSTIC TECHNOLOGY RDI II
Publication Date
24 Dec 2021
Document language
Main Topic
Lending
Document Number
151806602
Document Focus
Environmental Information
Project Number
20170615
Sector(s)
Regions
Publicly available
Download now

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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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