FAZUA (EGFF)

Promoter – Financial Intermediary

FAZUA GMBH

Location

• Germany

Description

Fazua is a Munich-based company that produces integrated pedelec drive systems for electric bicycles. The project concerns the Research and Development (R&D) activities for the development of the second generation of these systems, as well as capital expenditure for their development, testing, and assembly operations.

Objectives

The project will help the promoter achieve its objective of developing a new generation of pedelec drive systems and support the expansion of the serial production.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 12 million

Total cost (Approximate amount)

EUR 27 million

Environmental aspects

The project activities do not fall under Annexes I and II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory a Environmental Impact Assessment. The activities included in the scope of the project will be performed in existing buildings and are not expected to have any relevant environmental impact. The Bank's Services will review during the project appraisal any other environmental details of the project.

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 - 1/08/2019