Release date: 26 January 2023
Promoter – Financial Intermediary
ASSA ABLOY AB (PUBL)Location
Description
The project concerns the promoter's investments in Research, Development and Innovation (RDI) in the field of door opening and entrance systems, automation, identifications and access control systems. The related activities will be carried out in Europe over the period 2023-26.
Additionality and Impact
The project concerns RDI in the field of door opening and entrance systems, and the related automation, identification and control functions, aiming to improve security, safety functionality and convenience.
The project addresses the market failure of imperfect competition, as it contributes to expanding the competitive space for new product technologies, and the failure in financial markets for RDI, arising from higher cost of financing due to the inherent uncertainty about RDI activities.
The project's activities will be carried out in multiple EU locations and, partly, in Switzerland and Norway. The part of the project carried out in the EU is eligible for financing under Article 309 (c), Common interest. The part of the project carried out in Switzerland and Norway is covered by Bank's EFTA Mandate.
Part of the project concerns investments in cohesion areas in Poland and would be eligible also under Article 309 point (a), Projects for developing less-developed regions.
The project's activities are eligible for the Bank's financing under Bank's Public Policy Goal Innovation, Digital and Human Capital (IDHC).
The Bank's contribution to the project is also supported by a combination of its advantageous terms, flexible availability and utilisation of the loan, as well as helping crowd-in other financiers, thereby facilitating the project's financing and full implementation.
Objectives
The aim is to develop new products through the application of innovative technologies. The project supports the promoter in better addressing the emerging needs of final users in terms of safer, accessible and more sustainable and secure entrance and access systems.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 320 million
Total cost (Approximate amount)
EUR 673 million
Environmental aspects
The project consist 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 being 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 the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.
Status
Signed - 22/12/2022
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).