Summary sheet
The programme supports the research, development and innovations (RDI) activities of Sodiaal, a dairy cooperative in France. More specifically, the RDI activities concern: (i) the development of innovative dairy products; (ii) additional applications of existing ingredients; (iii) support the decarbonisation of milk producers.
The aim is to increase the resource efficiency of the promoter's current industrial activities and its resilience.
The financing of this Project supports the InvestEU objectives of financing Research, Development and Innovation (RDI) under TechEU.
The project finances the RDI activities of dairy cooperative SODIAAL in France. It is aligned with the EIB and European Union policy objectives to bolster EU competitiveness, promote an innovation friendly environment and make a success of the green transition. The project supports the objectives of the EU Bioeconomy and Farm to Fork strategies.
As a dairy farmers' cooperative, SODIAAL plays an important role in the transition toward a sustainable, resilient, and competitive European bioeconomy sector by supporting its farmer members on key challenges such as the installation of young farmers, the payment of fair milk prices and the transition to sustainable dairy farming. SODIAAL's RDI programme is essential to maintaining its position as a European leader in the global dairy sector by enabling the development of new products to meet rapidly evolving consumer demands for healthier and more sustainable diets, while decarbonising operations in line with the objectives of the Paris agreement on climate change.
EIB financing contributes to address market failures affecting investments in RDI activities despite the significant positive externalities that they bring in terms of knowledge, employment and environmental impacts.
This project will contribute to develop new knowledge, industrial processes and products while generating additional employments, including in transition cohesion regions, and contributing to reduce the environmental footprint of the French dairy sector.
The EIB contribution is to offer a long loan tenor that is typically not available on the capital markets. The EIB financing might also have a crowding in effect.
The project would not have been carried out (to the same extent) by the EIB without the InvestEU support
The 4-year programme includes RDI activities and small capital expenditure (CAPEX) investments carried out within existing facilities in France. Therefore, the project does not fall under the Environmental Impact Assessment (EIA) Directive 2014/52/EU (amending 2011/92/EU). The national legislation requirements, including permitting and public consultations, will be reviewed during the appraisal.
The promoter has been assessed by the EIB as a private company not 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 the EU public procurement legislation Directive 2014/24/EU, then the promoter shall ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.