GROPYUS (IEU GT)

Promoter – Financial Intermediary

GROPYUS AG

Location

• Germany
• Austria

Description

The project will finance the promoter's research, development and innovation (RDI) activities in Europe over the period 2023-2025. In particular, such RDI activities focus on the development of efficient manufacturing and construction technologies for sustainable, multi-storey apartment blocks using wooden modules pre-fabricated in an automated factory.

Additionality and Impact

The project helps the company in the further development and market deployment of its prefabricated modular and sustainable construction technology. It contributes to the Bank's Innovation, Digital and Human Capital and it qualifies under the EIB Climate Action and Environmental Sustainability policy objective. The project addresses the Invest EU eligible areas as per the Annex II of InvestEU Regulation: area 5, Research, Development and Innovation. This project addresses the sub-optimal investment situations associated with imperfect competition and incomplete markets, by contributing to increase the level of competition and enable the development, adoption and scale up of innovative sustainable construction technologies. It supports RDI for affordable, wood-based prefabricated multi-story construction which is targeting at significant positive knowledge, environmental and climate externalities. The InvestEU quasi-equity financing addresses the market failure of availability of non-dilutive growth capital for fast growing innovative SMEs, allowing the company to continue investing in R&D, creating skilled R&D jobs in the EU and support its growth. The EIB's financing is customised to the company's needs and highly flexible in terms of drawdowns. The EIB's investment is expected to generate a crowding-in effect. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Objectives

The aim to support the development of the promoter's innovative and sustainable construction technology, its successful implementation and the growth and innovativeness.

Sector(s)

• Industry - Construction

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 94 million

Environmental aspects

The RDI activities will be carried out in the company's existing facilities, therefore, there are no significant negative environmental impacts expected. Environmental aspects will be assed in detail during the appraisal.

Procurement

The promoter is a private company not operating in the utilities sector and does not have the status of a contracting authority. It is thus not subject to EU rules on public procurement.

Status

Signed - 21/12/2023