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    Reference: 20210498
    Release date: 30 July 2021

    Promoter – Financial Intermediary

    FAGOR EDERLAN SC

    Location

    Description

    The project concerns the Promoter's investments in: (i) research, development and innovation (RDI), for lightweight components and systems for sustainable mobility and vehicle electrification, sustainable manufacturing technologies to increase resource efficiency and circularity, and advanced manufacturing technologies; (ii) the development and deployment of transformational digitalisation technologies. The project will take place in the period 2021-2024 at the Promoter's premises in the Basque Region, Spain.

    Objectives

    The project concerns the Promoter's investments in research, development and innovation (RDI) for advanced materials, smart manufacturing, energy- and resource-efficient processes, systems and components for electric vehicles. It also includes investments for the development and deployment of transformational green manufacturing and process technologies and investments for the development and deployment of transformational digitalisation technologies.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 27 million

    Total cost (Approximate amount)

    EUR 55 million

    Environmental aspects

    The project concerns investments in research, development and innovation that are expected to be carried out in already existing and authorised facilities. The project does not fall under any Annexes of the Environmental Impact Assessment Directive 2014/52/EU amending Directive 2011/92/EU. The Bank's services will however review any environmental details of the project during the due diligence. The results of this project are expected to contribute to the development of a more sustainable European transport system, through the development and deployment of lightweight metal components and components for electric vehicles, as well as energy- and resource-efficient manufacturing technologies.

    Procurement

    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity. Thus, it is not covered by EU rules on procurement.

    Status

    Under appraisal - 2/07/2021

    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

    Spain Industry