UMWELTFREUNDLICHE MOTOREN F&E

Promoter – Financial Intermediary

German engineering company

Location

• Germany

Description

Financing engine and related technology R&D activities linked to the relevant emissions requirements and fuel-efficiency improvements.

Objectives

The project will contribute to increasing the promoter's knowledge and know-how in engine and related R&D activities. It is also expected to bring about positive environmental results, in particular a reduction of harmful emissions and CO2.

Comments

The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 90 million

Total cost (Approximate amount)

EUR 189 million

Environmental aspects

The project concerns investments in R&D that are expected to be carried out in existing facilities already authorized, in which case an Environmental Impact Assessment (EIA) would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank's services will verify details related to the location of the R&D facilities, and whether the project includes the implementation of any testing facilities that could fall under Annex II of the EIA directive.

Procurement

The promoter is a private-sector company operating in the manufacturing sector not covered by EU Directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank's services will verify details during the project's due diligence.

Status

Signed - 27/06/2012