Netherlands: Prodrive Technologies takes €40 million EIB loan to boost R&D

• European Investment Bank to lend €40 million to Dutch tech innovator’s research & development on electronic applications and manufacturing in different fields.
• Prodrive will use the financing to innovate new technologies for high-tech electronic products and systems concerning semiconductors, and the medical, energy and automotive sectors.
• Financing package fits into the EIB’s broader strategy of supporting European R&D and highly skilled employment, boosting strategic autonomy in key European industrial sectors.

Dutch-based Prodrive Technologies has signed a €40 million lending agreement with the European Investment Bank (EIB). The financing will advance Prodrive Technologies’ R&D initiatives regarding electronic products in the semiconductor, medical, energy and automotive sectors.

The project is expected to preserve and create skilled employment in R&D and manufacturing, while also contributing to the upskilling of the European workforce in response to evolving technological demands, thus reinforcing Europe’s position in high-tech manufacturing and innovation.

“This investment by the EIB is a clear signal that we want to support homegrown technology, supporting Europe’s strategic autonomy, competitiveness, and decarbonisation.” stated EIB vice president Robert de Groot. “Prodrive’s research and development align with to the objectives of the EU Chips Act, while also enabling green growth. It is important that European companies can grow, thrive and expand here in the EU and we are happy to support Prodrive as they do just that.”

"We are proud of the support from the European Investment Bank, which reinforces our role as an innovative player in Europe.” confirms Pieter Janssen, CEO at Prodrive Technologies. “This step allows us to invest significantly in R&D and manufacturing, helping us achieve our ambitious growth objectives. Through this partnership, we can develop technologies that not only strengthen Europe but at the same time make a global impact by smarter, more efficient solutions that drive green growth, improve performance and contribute to a sustainable future.”

Apart from aligning with the European Chips Act, the EU’s strategy to enhance competitiveness and resilience in semiconductor technologies, Prodrive’s R&D is expected to contribute to reducing greenhouse gas emission by introducing more efficient products, such as advanced power conversion systems for hydrogen electrolysis and innovative EV charging infrastructure.

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Over the last ten years, the EIB has made available more than €27 billion in financing for Dutch projects in various sectors, including research & development, transport, drinking water, healthcare and SMEs.

The EIB is the European Union's bank; the only bank owned by and representing the interests of the European Union Member States, The Netherlands owns a 5,2% share of the EIB. It works closely with other EU institutions to implement EU policy and is the world’s largest multilateral borrower and lender. The EIB provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe.

Founded in 1993, Prodrive Technologies designs and manufactures mission-critical products and technology solutions, combining advanced engineering, innovative manufacturing, and global expertise to empower industry leaders worldwide. Headquartered in the Netherlands, with regional hubs in the USA, Japan, and China, we deliver high-performance off-the-shelf products and tailored solutions for the semiconductor, medical, life sciences, energy, infrastructure, and industrial markets.