ARTEC 3D (IEU FT)

The project will contribute to fund the promoter's research, development, and innovation (RDI) activities in the 3D scanner market.

The objective is to support Artec's RDI investments in applied research and the development of new products and software, as well as to advance next-generation 3D scanning technologies and algorithms for processing 3D data from various sources. This will enable the creation of digital twins of real-world objects and scenes, facilitating digital transformation across various industries. Artec 3D's strategy involves launching innovative products using AI to create digital twins within established markets, while also expanding into new ones to address the technology diversification needed to support the company's geographic expansion.

The project is in line with the InvestEU objective of:

5) Research, development and innovation, in particular through:

f. research in the field of key enabling technologies (KETs) and their industrial applications, including new and advanced materials;

6) The development, deployment and scaling-up of digital technologies and services, especially digital technologies and services, including media, online service platforms and secure digital communication, that contribute to the objectives of the Digital Europe Programme, in particular through:

a. artificial intelligence;

c. cybersecurity and network protection infrastructures;

f. advanced digital skills;

g. robotics and automatisation;

The investment targeted by the financing and investment operations addresses market failures associated with information asymmetries, in particular in the case of SMEs and small mid-cap companies, including higher risk levels related to early stage firms, firms with mainly intangible assets or insufficient collateral, or firms focusing on higher risk activities.

The project involves investment in R&D activities in the field of hardware R&D to develop new 3D scanners models for digital twins and sustainable manufacturing, encompassing the development of advanced algorithms, software, machine learning, and AI. These technologies play a key enabling role across various sectors and industrial ecosystems, including advanced manufacturing, healthcare, education, and energy. While the outcome and ultimate commercialization of R&D activities are highly uncertain, the supported project, which includes a substantial portion of early-stage research, is associated with positive knowledge externalities. The project accelerates the accumulation and diffusion of knowledge in advanced manufacturing within the European industry through collaboration with universities and suppliers, contributing to increased technology leadership and competitiveness in the European industry.

The EIB's financing is customised to the company's needs and highly flexible in terms of drawdowns. The EIB's investment is expected to generate a crowding-in effect. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

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 is a private company not operating in the utilities sector and does not have the status of a contracting authority. It is thus not subject to EU rules on public procurement.