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Signature(s)

Amount
€ 30,000,000
Countries
Sector(s)
Germany : € 30,000,000
Industry : € 30,000,000
Signature date(s)
23/12/2023 : € 30,000,000
Link to source

Summary sheet

Release date
20 February 2024
Status
Reference
Signed | 23/12/2023
20210363
Project name
Promoter - financial intermediary
OLEDWORKS (I-EU FT)
OLEDWORKS GMBH
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 30 million
EUR 72 million
Location
Sector(s)
Description
Objectives

OLEDworks designs and develops organic light emissions diode (OLED) lighting solutions for the automotive industry, micro displays as well as non-automotive & speciality lighting. The project supports the company's expansion and product development in the EU, targeting mainly the automotive sector.

The aim is to finance the promoter's RDI activities in the field of OLED systems and solutions, with a main focus on the automotive sector. The project will also implement manufacturing equipment and machinery within the existing OLED manufacturing facility to support the promoter's growth plans.

Additionality and Impact

The project is in line with the InvestEU objective of (Annex II eligibility). The proposed operation addresses the Future Technologies Main Policy Priority Area under the InvestEU Research, Innovation and Digitalisation Window (RIDW), and more specifically the innovative use of OLED lighting technology for the automotive industry.


The promoter has developed a capability and intellectual property to use OLED technology for lighting in cars including for rear combination lamps, which is a first-of-a kind use case at scale. The financing will help the Company expanding its European operations in part through the extension of their manufacturing facility in Aachen, Germany, while also supporting the further development of their proprietary OLED lighting technology.


The EIB Venture Debt financing is expected to address market failures and gaps related to (i) imperfect competition contributing to expand the use cases of innovative OLED technology, (ii) incomplete market by facilitating the creation of a serial production capability for OLED panels targeting automotive clients, and (iii) financial market failures arising from higher cost of financing.


The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.


Environmental aspects
Procurement

The activities included in the project do not fall under any Annex of the environmental impact assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU and will be carried out in existing facilities already authorised that will not change their scope due to the project. The increased capacities for OLED devices will be implemented in an existing industrial building and is already authorised for the planned activities

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.

Milestone
Under appraisal
Approved
Signed
22 December 2023
23 December 2023
Related projects
Link to source
Summary sheet
Other links

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) - OLEDWORKS (I-EU FT)
Publication Date
22 Feb 2024
Document language
Main Topic
Lending
Document Number
178596214
Document Focus
Environmental Information
Project Number
20210363
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

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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.
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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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