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    Reference: 20180446
    Release date: 10 December 2018

    Promoter – Financial Intermediary




    The promoter is a company based in Estonia that developed new generation lower operating temperature technology for solid oxide fuel cells (SOFC) and stacks, which achieve higher electrical efficiency and longer stack lifetime, thus lowering costs. The proposed operation would finance further research and development (R&D) and scaling up of manufacturing.


    The project aims at bringing the technology from pilot scale to a demonstration manufacturing line, which can be suited to a commercial-scale SOFC technology manufacturing plant. It will also allow potential customers to evaluate, test and qualify the technology for the final market launch. The project will finance further research, development and innovation (RDI) and product development along with manufacturing capacity scale-up for both the cell production and stacks assembly lines.


    Proposed EIB finance (Approximate amount)

    EUR 12 million

    Total cost (Approximate amount)

    EUR 33 million

    Environmental aspects

    The project RDI activities are expected to be carried out in existing facilities, which are already authorised facilities that will not change their already authorised scope due to the project. An Environmental Impact Assessment (EIA) will therefore not be needed for the RDI stage as per Directive 2014/52/EU amending the EIA Directive 2011/92/EU. It could, however, be that the implementation and expansion of both demonstration manufacturing plants may require an EIA at the locations of project implementation. The Bank's Services will put as a condition precedent for second and third disbursements that the provider has to inform the Bank whether an EIA is necessary and, if yes, require that a positive EIA is a condition precedent for such disbursements.


    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 Directive 2014/25/EU, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/25/EU, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.


    Signed - 19/12/2018


    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).

    Related tags

    Estonia Finland Industry