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    Reference: 20210232
    Release date: 3 December 2021

    Promoter – Financial Intermediary




    Varjo is a Finnish company founded in 2016, that develops human-eye resolution virtual and mixed reality headsets. Varjo's products are specifically designed to meet high demanding enterprise use cases in various areas including training and simulation, design and engineering, research and medical.


    The project aims to help Varjo mitigate the impacts of the COVID-19 pandemic, mainly by supporting the company's investments in research, development and innovation to execute on and scale up its growth strategy.


    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 47 million

    Environmental aspects

    The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/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.


    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.


    Signed - 3/11/2021

    Related tags

    Finland Services