Release date: 18 September 2024
Promoter – Financial Intermediary
SIMSCALE GMBHLocation
Description
SimScale is a Germany-based start-up developing a cloud-based engineering simulation platform for engineers, designers and architects. The EIB financing will finance the company's research and development activities to enhance the simulation platform and support its business expansion.
Objectives
The aim is to support the development of additional features of the promoter's simulation software suite, its deployment in the cloud infrastructure, the strengthening of customer service and sales functions as well as the overall expansion of the business.
Sector(s)
- Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 66 million
Environmental aspects
The project activities do not fall under Annexes I and II of the environmental impact assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory EIA. The activities included in the scope are not expected to have any relevant environmental impact. Such assumptions and any other relevant environmental aspect will be further assessed 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.
Status
Under appraisal
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).