MARPOSS MEASUREMENT SYSTEMS RDI II

Promoter – Financial Intermediary

MARPOSS SPA

Location

• Italy

Description

The loan will finance a selection of the promoter's research, development and innovation (RDI) investments to be carried out in Italy over the period 2022-25. The related RDI activities are in the field of flexible measuring and process control devices and systems. More specifically, such measuring systems concern electric mobility components hydrogen technologies and fuel cells. Additionally, the project includes investments in the field of digital transformation and cyber security.

Additionality and Impact

The project concerns the development of innovative technologies for flexible measuring, process control devices and systems, measuring and testing systems for electric mobility, hydrogen, fuel cells and sustainable energy technologies, along with the deployment of transformative digitalisation solutions. It will facilitate and accelerate the development and manufacturing deployment of such technologies by the promoter's customer industries, will contribute to further knowledge creation, accumulation and diffusion through collaborations and patenting, and will support the development of a more efficient and sustainable European economy.

The investments contribute to the Bank's "Innovation, Digital and Human Capital" public policy objective and part of them to the EIB Climate Action and Environmental Sustainability policy objective. The promoter's investments address the market failures and gaps associated with incomplete markets for innovative, flexible and precision gauging and testing technologies for electric vehicle, fuel cell and battery applications, and those addressed by projects with positive knowledge, environmental and safety externalities generation.

The promoter's R&D capability, focus on innovation and sustainability, technology edge, deep knowledge of its customer industries, along with its experienced management will help implement a sound and sustainable project, integrating positive environmental and social dimensions, contribute to address and mitigate market failures, and through its additionality, contribute to the Bank's policy objectives.

The proposed operation satisfactorily meets the required funding needs of the promoter as it provides for significant flexibility by providing relatively long tenor, pre-amortisation and availability periods. The EIB funding is expected to improve the promoter's financial profile by further diversifying its funding base, by reducing its average cost of funding and by further improving its maturity profile.

The Bank's technical contribution and advice is primarily explained by the guidance provided to align the project scope with policy objectives at project origination.

Objectives

The aim is to support the promoter's products and services primarily in the field of technologies for electro mobility, fuels cells and renewable energy, as well as other applications in line with the EIB's Climate Bank Roadmap (CBR). The activities in the field of digital transformation will boost the promoter's offering of digital services, while the activities on cyber security will improve resilience of both the promoter and its products to cyber-attacks.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 82 million

Environmental aspects

The project consists of RDI activities that are not listed in any of the annexes of the environmental impact assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU. The environmental details will be verified during the project appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to EU public procurement legislation, then the European Commission will be informed and the promoter will have to apply those rules.

Status

Signed - 6/12/2022