TRUCKSTERS (IEU FT)

Trucksters is a Spanish small and medium sized enterprise (SME) acting as a digital transport operator focusing on optimizing long-haul trucking with a relay-based model powered by Artificial Intelligence.

The project will finance mostly investments in research, development and innovation (RDI) activities as well as the commercial growth of the company.

Trucksters is a Spanish SME acting as a "digital" transport operator focusing on optimizing long-haul trucking. With a relay-based model powered by Artificial Intelligence ("AI"), Trucksters allows freight to move 2x faster while improving truck drivers' conditions in the EU. The Company also ambitions to become the first European company to provide long-haul transportation with fully-electric trucks through short-haul electrified relays.

The project supports the policy objective of innovation and digitalisation and it is aligned with the targets of Europe's Digital Decade, as it supports the development of artificial intelligence and digital technologies. The project generates positive RDI externalities by means of transparency and efficiency in logistics processes, enabling better utilisation of existing European road carrier capacities while addressing the market failure of information asymmetries.

Supporting the development of a platform enabled by AI powered relays, combining route planning with real-time analysis, the promoter, an innovative start-up, offers increased speed, security and reliability and helps enabling future electrified road transportation contributing to the environment sustainability of the sector

The EIB financing addresses a market gap through its venture debt product which combines unique features such as a 3-year availability period associated with a long-term maturity date and a bullet repayment so the Borrower can focus on sustainable growth by deploying its technological and commercial roadmap . This financing is expected to support the company in maintaining its competitive edge while creating a financial catalyst effect by setting solid grounds in view of a future funding.

The related activities will be performed in existing buildings with no relevant environmental impacts expected. The project does not fall under the environmental impact assessment (EIA) Directive 2014/52/EU (amending EIA Directive 2011/92/EU) therefore no EIA is required.

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.