Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages
    Reference: 20200461
    Release date: 28 September 2021

    Promoter – Financial Intermediary

    MATRIX PACK SA

    Location

    Description

    The project will consist of financing (i) new machines for the production of paper straws to replace plastic, non-renewable ones, (ii) ancillary equipment and (iii) related research, development and innovation (RDI) activities.

    Additionality and Impact

    This project eases financial constraints for SMEs and/ or midcaps that arise from information asymmetries caused by the lack of track record for such companies and high screening costs for small investments, especially in the rural areas and the bioeconomy sectors. By supporting such companies, EIB sends a positive signal to private investors and thus incentivizes further financing in the wider bioeconomy.
    This project addresses the failure in financial markets for SMEs and/ or midcaps arising from limited access and/or high cost of financing charged by creditors/ investors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring.
    The project generates positive externalities in the form of environmental and public health benefits through reduction of the negative externalities of using fossil fuel based raw materials (i.e. plastics), replaced by the new enhanced renewable materials (i.e. paper).

    Objectives

    The objectives of the EIB financing are to support the company in mitigating the impact of the COVID-19 pandemic and to execute its growth investments mainly in research and development (R&D) and commercial expansion.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 8 million

    Total cost (Approximate amount)

    EUR 18 million

    Environmental aspects

    The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the 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 environmental impact assessment (EIA).

    Procurement

    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

    Status

    Signed - 9/12/2021

    Disclaimer

    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

    Greece Industry