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    Reference: 20200130
    Release date: 23 April 2021

    Promoter – Financial Intermediary

    GN STORE NORD A/S

    Location

    Description

    Research, development and innovation (RDI) investments to develop new hearing and acoustic devices.

    Objectives

    The RDI activities focus on innovative solutions in hearing and acoustic technology.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 75 million

    Total cost (Approximate amount)

    EUR 195 million

    Environmental aspects

    The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An environmental impact assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.

    Procurement

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

    Status

    Approved - 25/06/2021

    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).

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