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    Reference: 20180176
    Release date: 17 September 2018

    Promoter – Financial Intermediary

    ORBITAL SYSTEMS AB

    Location

    Description

    Orbital is a Swedish company founded in 2012 that has developed a water recycling technology for domestic applications which offers important water and energy savings. The proposed investment programme includes investments in RDI (Research, Development and Innovation), some R&D (Research and Development) capital expenditure (capex) to empower the company's R&D and testing capabilities as well as investments to support the company's commercial expansion primarily in the European Union. The investments will be carried out in the period between 2018 and 2020.

    Objectives

    Orbital is an innovative early stage company which plans to scale its activity by reaching new clients, broadening its product portfolio and licensing its technology. To achieve these objectives, the company needs to invest in expanding its technology know-how, further industrialising and commercialising its products, enabling the scale-up in production and building up physical working capital.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    EUR 36 million

    Environmental aspects

    The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory Environmental Impact Assessment.

    Procurement

    The promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, thus not being subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the promoter are suitable for the project.

    Status

    Approved - 27/09/2018

    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).

    Related tags

    Sweden Industry