Release date: 24 April 2002
Promoter – Financial Intermediary
The project promoter is a start-up company for the development and manufacture of rechargeable, latest generation batteries.Location
Description
The project consists of the construction and management of a “greenfield” manufacturing facility for Lithium-Ion Polymer batteries, mainly for the cellular handset and Smart Cards markets.
Objectives
The funding of this project would support a start-up company in an Objective 1) area. It is expected that the project will result in the creation of 130 new direct jobs before mid-2004. Its innovative character and high growth potential, supported by the commitment of the local and regional authorities, will contribute positively to the economic and social development of the eastern parts of Saxony, a region with structural high unemployment. The project would also make use and develop further European patents for battery technology in competition with mainly Asian manufacturers, which are leading in this field.
Comments
Manufacture of accumulators, primary cells and primary batteries.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 30.5m
Total cost (Approximate amount)
Up to EUR 66.02m
Environmental aspects
Manufacturing of dry batteries is not amongst the activities requiring an EIA according to the EU Directive 97/11, which amends the 85/337, and an environmental impact assessment is not required by the national legislation. Specific factors, which could have an impact on the environment, such as battery disposal by end-users, safety and health of manufacturing staff and use of materials, will be analysed during appraisal.
Procurement
Project's procurement procedures will be in line with current practice in private industry.
Status
Signed - 11/09/2002
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).