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The project pertains to investments in Research, Development and Technology in the fields of avionics and radar technologies of a major European player.
The project pertains to product development in the fields of avionics, including the development and integration of cockpit systems and associated services such as connected and secure flight management systems (FMS), and radar technologies. The project aims to support the promoter's research, development and innovation (RDI) activities in particular in software engineering designed for dual use applications in avionics and radar systems.
The R&D activities included in the financed project cover a wide range of technologies within the defence and security areas, particularly in the avionics and radars sectors. The project will contribute to increasing the promoter's industrial and engineering expertise and to accelerating the accumulation and diffusion of knowledge in Europe, through the promoter's collaboration with universities, research centres and industrial partners. The promoter's investment is also expected to contribute to increasing the technological competence and leadership of the European aerospace and defence industry. The project contributes to the Bank's "Innovation, Digital and Human Capital" PPG. By supporting investments of a leading aerospace and defence European company, the project is expected to contribute to the Bank's Transversal Public Policy Goal of Security and Defence. The project addresses the increasing policy focus on critical technologies supporting European security. The promoter's investments address the market failures and gaps associated with projects generating positive knowledge externalities. Origination and appraisal of the operation have benefited from the EIB technical expertise. The proposed operation satisfactorily meets the required funding needs of the promoter as it provides for the necessary flexibility in terms of long tenor and repayment profile, together with a sizeable financing volume. The EIB funding is expected to improve the promoter's financial profile by further diversifying its funding sources.
The project activities are not listed under Annexes I or II of the environmental impact assessment (EIA) Directive2014/52/EU amending the EIA Directive 2011/92/EU, therefore they are not subject to an EIA procedure. In addition, the project activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.