COESIA ADVANCED MANUFACTURING TECHNOLOGIES RDI

Promoter – Financial Intermediary

COESIA SPA

Location

• Italy
• Sweden
• Germany

Description

The project will finance selected investments to be made by the Promoter in Research, Development, Innovation (RDI) and digitalisation in the field of automatic machines for a wide range of industrial applications. RDI investments will primarily be carried out in Italy between 2024 and 2026.

Additionality and Impact

The Project strengthens the know-how and expertise of a leading EU supplier of machinery for a broad range of industrial applications, and thus supporting the competitiveness of the European supply chain for advanced manufacturing technologies. 

The Project's activities are in line with the Bank's IDHC (Innovation, Digital and Human Capital) public policy goal and therefore are eligible for the Bank's financing under the Research, Innovation and Digital (RID) policy objective; a part of it contributes also the Bank's Climate Action & Environmental Sustainability (CA&ES) cross-cutting objectives (CA-Mitigation (RDI) and is also aligned with the objectives of the EIB RePowerEU package.

The financing of this Project supports Research, Development, and Innovation (RDI) activities that generate significant positive knowledge, technology, and environmental externalities, through the creation of innovative products and services and skills development and upgrading.

The Promoter's experienced management and proven R&D capabilities, its focus on R&D, innovation and sustainability, and its technology edge and industrialisation capability will help implement a sound and sustainable Project. The Project integrates positive environmental and social dimensions, contributes to addressing and mitigating market failures, and through its additionality, contributes to the Bank's policy objectives.

The proposed operation satisfactorily meets the funding needs of the promoter providing additional flexibility in terms of longer tenors and longer grace periods (particularly given the current tighter liquidity in the banking sector) and lower cost of funding. The EIB funding is expected to improve the promoter financial structure by spreading out its repayment profile, reducing the cost of newly incurred indebtedness as well as diversifying its funding base in addition EIB Intervention has enabled to attract other lenders.

Objectives

The aim is to develop new technologies and innovative products in several business segments of the Promoter, such as battery technologies, ceramics and automation. Regarding battery technologies, the objective is to develop the Promoter's know-how in the different phases of cells manufacturing. In the field of ceramics, RDI activities focus on forming technologies, desiccation, improved sustainability in the use of raw material, energy efficiency as well as on digital decoration, meanwhile in the field of automation, RDI concern technologies and equipment for factory flow automation across multiple industries. The project also includes RDI activities on technologies to be applied across several business applications, such as sealing and filling systems, as well as digital twins.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 106 million

Environmental aspects

The project consists of investments in RDI and digitalisation 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 - 29/11/2024