Release date: 5 May 2023
Promoter – Financial Intermediary
ROCSYS BVLocation
Description
The project concerns the financing of the technology development and deployment of the next generation robotic charging solutions to enable autonomous electric vehicles charging.
Additionality and Impact
The operation is in line with the InvestEU objective of the development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies.
The project supports the Company, an EU SME, in the further development and market deployment of its robotic charging solutions, which it's expected to improve charging operations convenience and efficiency, making them more attractive to electric vehicles users and charging point operators.
The project contributes to the Bank's "Innovation, digital and human Capital" as well as its "Sustainable cities and regions" objective and it qualifies under the EIB Climate Action and Environmental Sustainability policy objective. The project is eligible under Article 309 point (c) common interest.
The project also addresses the Invest EU eligible areas as per the Annex II of InvestEU Regulation and aligns with specific eligibilities under Thematic Green Transition (Schedule A.2.1 of InvestEU Guarantee Agreement), in particular with 1.1.2 Future mobility.
Through developing robotic charging technologies to improve electric vehicle charging operations, the project contributes to mitigate market failures associated with imperfect competition and incomplete markets, positive knowledge and negative environmental externalities.
EIB support will therefore address such sub-optimal investment situations and accelerate the expected benefits to society. The EIB financing is expected to have a positive crowding-in effect, attracting additional private investors to the Company and it will provide additional financial flexibility and unlocks long term funding for the implementation of this project.
Objectives
The project will support the research, development and innovation (RDI) activities for the promoter's product development and its market expansion.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 18 million
Total cost (Approximate amount)
EUR 38 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
The company is a private sector company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not subject to the EU Public Procurement Directives.
Status
Signed - 27/06/2023
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).