WINNOW (EGFF)

Promoter – Financial Intermediary

WINNOW EUROPE SRL

Location

• Romania

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)

• Services - Information and communication

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