GN STORE NORD ACOUSTIC TECHNOLOGY RDI II

Promoter – Financial Intermediary

GN Store Nord A/S

Location

• Denmark
• The Netherlands

Description

The project relates to the promoter's ongoing expenditures on Research, Development and Innovation (RDI) in Denmark, for the improvement of its portfolio of hearing aids and acoustic devices. In particular, the project will include the continued development of its next generation chipset and new product platforms to address the needs of its current and future market.

Objectives

Financing of GN Store Nord's research, development and innovation in the area of acoustic hearing devices.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 210 million

Environmental aspects

The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and are not expected to change their scope due to the project. An Environmental Impact Assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.

Procurement

The promoter has been assessed by the EIB as being a private company not being 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 EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation.

Status

Signed - 8/12/2017