Search En menu ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages
    Reference: 20210236
    Release date: 6 October 2021

    Promoter – Financial Intermediary

    USOUND GMBH

    Location

    Description

    USound is an Austrian company active in the development of MEMS (Micro-Electro-Mechanical Systems) technologies for audio applications. The fabless company offers its silicon-based speakers to be integrated into a variety of personal electronic devices, enabling their miniaturisation and lower power consumption.

    Additionality and Impact

    The project supports the policy objective of support for SMEs, as well as research and development by providing tailored venture debt financing to an innovative start-up in the area of MEMS (Micro-Electro-Mechanical Systems) technologies for audio applications, enabling miniaturisation and lower power consumption of audio devices such as smartphones and wearables.

    The project entails positive knowledge spillovers related to audio technologies, MEMS and integrated circuit design, strengthening EU innovation in key enabling technologies.

    EIB's financial contribution facilitates the SME's sustainable growth and helps to maintain its technological edge, despite the adverse economic conditions resulting from the COVID-19 outbreak. Furthermore, it provides a positive signalling effect to crowd-in further financing from private investors.

    Objectives

    The objectives of the EIB financing are to support the company to mitigate the impact from 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 15 million

    Total cost (Approximate amount)

    EUR 33 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 thus is 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 - 23/07/2021

    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).

    Related tags

    Austria Industry