Release date: 25 July 2022
Promoter – Financial Intermediary
FAURECIALocation
Description
The project concerns the promoter's investments in: (i) research and development (R&D) and manufacturing deployment of hydrogen technology for mobility applications, more specifically in the fields of hydrogen storage systems and fuel cell stack systems; (ii) R&D in the fields of vehicle advanced driver assistance systems and driver monitoring systems, focusing on the improvement of vehicle, driver and pedestrian safety.
Objectives
The project will contribute to develop innovative hydrogen fuel cell technology systems and solutions suitable to improve the affordability, energy efficiency, performance and therefore adoption in the market of hydrogen mobility and vehicle electrification, by contributing to remove the remaining barriers to adoption. The project component focusing on ADAS and driver monitoring systems will contribute to increasing the level of safety of vehicles for drivers, occupants and pedestrians along with the level of comfort and efficiency of driving operations.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 315 million
Total cost (Approximate amount)
EUR 640 million
Environmental aspects
The project's R&D activities are not mentioned under the EIA directive. However, the project includes also activities in different sites that require the storage of hydrogen which falls within the projects listed in Annex II of the EIA Directive 2014/52/EU amending Directive 2011/92/EU. During the appraisal, the Bank will review the applicable process in the different project sites, the status of the environmental approval process and the Promoter's relevant obligations, as well as all the environmental, health and safety issues. The project's outcomes are expected to have a strong positive environmental contribution as they will contribute to the decarbonisation of the transport sector, and especially of applications (long-haul trucks) where suitable and economically viable electrification solutions are far from mature stages of development and deployment.
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 - 1/07/2022
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).