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Signature(s)

Amount
€ 12,000,000
Countries
Sector(s)
Finland : € 5,400,000
Estonia : € 6,600,000
Industry : € 12,000,000
Signature date(s)
19/12/2018 : € 5,400,000
19/12/2018 : € 6,600,000
Link to source

Summary sheet

Release date
10 December 2018
Status
Reference
Signed | 19/12/2018
20180446
Project name
Promoter - financial intermediary
HIGH EFFICIENCY FUEL CELL STACKS (EDP)
AS ELCOGEN
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 12 million
EUR 33 million
Location
Sector(s)
Description
Objectives

The promoter is a company based in Estonia that developed new generation lower operating temperature technology for solid oxide fuel cells (SOFC) and stacks, which achieve higher electrical efficiency and longer stack lifetime, thus lowering costs. The proposed operation would finance further research and development (R&D) and scaling up of manufacturing.

The project aims at bringing the technology from pilot scale to a demonstration manufacturing line, which can be suited to a commercial-scale SOFC technology manufacturing plant. It will also allow potential customers to evaluate, test and qualify the technology for the final market launch. The project will finance further research, development and innovation (RDI) and product development along with manufacturing capacity scale-up for both the cell production and stacks assembly lines.

Environmental aspects
Procurement

The project RDI activities are expected to be carried out in existing facilities, which are already authorised facilities that will not change their already authorised scope due to the project. An Environmental Impact Assessment (EIA) will therefore not be needed for the RDI stage as per Directive 2014/52/EU amending the EIA Directive 2011/92/EU. It could, however, be that the implementation and expansion of both demonstration manufacturing plants may require an EIA at the locations of project implementation. The Bank's Services will put as a condition precedent for second and third disbursements that the provider has to inform the Bank whether an EIA is necessary and, if yes, require that a positive EIA is a condition precedent for such disbursements.

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 Directive 2014/25/EU, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/25/EU, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

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) - HIGH EFFICIENCY FUEL CELL STACKS (EDP)
Publication Date
21 Dec 2018
Document language
Main Topic
Lending
Document Number
88876605
Document Focus
Environmental Information
Project Number
20180446
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - HIGH EFFICIENCY FUEL CELL STACKS (EDP)
Publication Date
31 Dec 2023
Document language
Main Topic
Lending
Document Number
185887619
Document Focus
Environmental Information
Project Number
20180446
Sector(s)
Regions
Countries
Publicly available
Download now

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