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    Reference: 20180671
    Release date: 31 January 2020

    Promoter – Financial Intermediary

    WINNOW EUROPE SRL

    Location

    Description

    Winnow is a company offering professional kitchens staff an artificial intelligence enabled tool that tracks the amount and the type of wasted food, thus providing metrics to manage and prevent food waste. The project, taking place in Romania, will finance research and development (R&D) investments to further develop this innovative food waste technology, as well as operating expenditures to scale up and increase the client portfolio.

    Objectives

    The EIB lending would be primarily financing Winnow's R&D expenses for the further development of its proprietary technologies, particularly in the area of food waste prevention. In addition, it would support the promoter's overall growth in target EU markets through dedicated market development resources and financing of associated capital expenditures.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 8 million

    Total cost (Approximate amount)

    EUR 17 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 EIA.

    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

    Signed - 25/07/2019

    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

    Romania Services