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Menta is a French designer of Embedded Field-Programmable Gate Arrays ("eFPGA"). FPGAs are microchips that sit between application-specific integrated circuits (ASICs) and regular central processing units (CPUs) in terms of efficiency and flexibility. Menta's design embeds such an FPGA chip design into an ASIC or CPU. The Company only sells intellectual property, it does not manufacture the chips itself.
The objectives of the EIB financing are to support the company in mitigating the impact from the COVID-19 pandemic and to accelerate its research and development (R&D) investments.
The project contributes to the policy objective of Research and Development by supporting an innovative start-up developing semiconductor design technology for innovative applications like artificial intelligence or edge computing. The promoter is a small company that faces challenging financing needs linked to its new nascent technologies but generates positive externalities as it helps to support European semiconductor industries, boost innovation, growth and job creation. The promoter's strategy depends on significant RDI investments in order to lead the technology development. EIB financing, with an innovative structure adapted to the risk profile of this early stage company, allows the promoter to finance its investment plan, generating a positive crowd-in effect for other investors.
The project activities do not fall under Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).
The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.