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Signature(s)

Amount
€ 45,000,000
Countries
Sector(s)
Spain : € 45,000,000
Industry : € 45,000,000
Signature date(s)
4/07/2025 : € 45,000,000

Summary sheet

Release date
9 July 2025
Status
Reference
Signed | 04/07/2025
20240775
Project name
Promoter - financial intermediary
ULMA INNOVATION & SUSTAINABILITY IN CONSTRUCTION
GRUPO ULMA SC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 45 million
EUR 98 million
Location
Sector(s)
Description
Objectives

The project scope encompasses Ulma's expenditures in research, development and innovation (RDI) and innovation-related capex focused on the construction sector value chain. It includes the Promoter's investments, planned for the 2025-2028 period, in innovative technologies and processes aimed at improving raw material recyclability, upgrading current facilities, and reducing the Promoter's carbon footprint. R&D activities focus on applying advanced manufacturing technologies as well as other strategic initiatives that enhance the Promoter's capability to implement their sustainability strategy.

The EIB loan will be used by the Promoter to finance its RDI and capex investments supporting the implementation of the company's strategy, in particular the Construction and Architectural Solutions businesses. The investments are expected to support ULMA Group's competitiveness and growth.

Additionality and Impact

The Project concerns the Promoter's investments in research, development, advanced manufacturing technologies and digitalisation and investments to improve energy efficiency and sustainability. The Promoter operates in the construction sector. The Project will further knowledge creation and diffusion through the Promoter's R&D collaborations with customers, industrial and supply chain partners and research institutes. It will also contribute to a continued reskilling and upskilling of Promoter's resources. The Project has a substantial circular economy component, which will enable use of recycled raw materials, derived from industrial waste. The financing of this Project is therefore set to generate significant positive knowledge and environmental externalities. 

Such investments contribute to the Bank's "Innovation, Digital and Human Capital" public policy objective, a part of them also to the EIB Climate Action and Environmental Sustainability policy objective. EIB financing supports the Promoter's investments addressing market failures and gaps associated with imperfect competition and incomplete markets for innovative manufacturing technologies, and those addressed by projects with positive knowledge and environmental externalities generation.

This Project will help the Promoter to implement its strategic objectives and strengthen its know-how, competence and position in the technology fields aligned with its product, digitalisation and sustainability strategy. As such, it will help the Promoter to address the evolving market and technology context, the relevant customer needs and to achieve its medium and long-term sales and profitability targets. 

The Bank will support the company with access to long-term financing with customised and flexible financial terms and conditions, which increase the Promoter's average debt maturity. The Bank's financing will have a positive signalling effect to other financiers, demonstrating the Project's soundness and quality. 

Environmental aspects
Procurement

The project concerns research, development and innovation (RDI) activities and advanced manufacturing investments which will primarily be carried out in existing facilities already authorised for the same purpose and would not require an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU. The location of the manufacturing activity and capital expenditures related to the market launch of a novel product has yet to be finalised and obtaining the necessary environmental permits and licenses will constitute Project CPs.

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

Milestone
Under appraisal
Approved
Signed
15 May 2025
4 July 2025
Related projects

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - ULMA INNOVATION & SUSTAINABILITY IN CONSTRUCTION
Publication Date
11 Jul 2025
Document language
Main Topic
Lending
Document Number
240819949
Document Focus
Environmental Information
Project Number
20240775
Sector(s)
Regions
Countries
Publicly available
Download now

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