Summary sheet
The loan will finance the promoter’s capital expenditure investments for the industrialisation of mycelium biobased materials production in Italy. The project will also support research and development activities and other expenses for the period 2026-2029 to support the company's growth.
The aim is to develop innovative biotechnology and biomaterials that make a significant contribution to the objectives of the Green Deal.
The Project is in line with the InvestEU objective of financial support to start-up in the wider bioeconomy sector (Annex II of InvestEU Regulation). It includes deployment of technologies as well as research and development activities contributing to the EU's industrial capabilities and to environmental sustainability in various end-user industries for innovative mycelium-based materials, such as fashion, automotive and interior design/building materials. It is in line with the Bank's Climate Bank Roadmap. The Project supports an innovative company developing sustainable alternatives to traditional and synthetic materials in their respective markets aiming to achieve industrial volumes of high-quality products with a low environmental impact. As such, the Project generates positive environmental and knowledge externalities while addressing market failures linked to the elevated risk exposure in certain sectors due to SQIM`s early stage of development.
InvestEU reinforces the Bank's risk capacity, which allows the Bank to address a distinct market failure and sub-optimal investment situation arising from the ongoing difficult context of fundraising for this biotech company. The financing provided by the EIB for this Project in the form of venture debt is crucial for the company, allowing to accelerate its development and deployment. With the EIB participation, it will be able to diversify its funding sources, improve its financing conditions and send a strong signal to the market. The Project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.