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    Summary sheet

    Release date
    4 May 2022
    Status
    Reference
    Under appraisal | 04/05/2022
    20210416
    Project name
    Promoter - financial intermediary
    VERKOR BATTERY DEMO LINE (EDP)
    VERKOR SA
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 49 million
    EUR 106 million
    Location
    Sector(s)
    Description
    Objectives

    Financing of the design, construction and implementation of a demonstration manufacturing line for the production of advanced Li-ion battery cells supplying qualification samples for the automotive sector and small-scale commercial orders for electric vehicles.

    The demonstration project aims at the creation of a cost competitive innovative cell and battery production industry in Europe and contributes to the security of supply in critical components (batteries) to the EU industry.

    Environmental aspects
    Procurement

    The project concerns capital investments for the production of lithium-ion electrodes, cells and batteries, falling under the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU. All environmental, health and safety issues including environmental and operational authorisations will be reviewed during the due diligence process.

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

    Disclaimer

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

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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.
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