MATRIX PACK (EGF VD)

Promoteur – Intermédiaire Financier

MATRIX PACK SA

Lieu

• Grèce

Description

The project will consist of financing (i) new machines for the production of paper straws to replace plastic, non-renewable ones, (ii) ancillary equipment and (iii) related research, development and innovation (RDI) activities.

Additionality and Impact

This project eases financial constraints for SMEs and/ or midcaps that arise from information asymmetries caused by the lack of track record for such companies and high screening costs for small investments, especially in the rural areas and the bioeconomy sectors. By supporting such companies, EIB sends a positive signal to private investors and thus incentivizes further financing in the wider bioeconomy.
This project addresses the failure in financial markets for SMEs and/ or midcaps arising from limited access and/or high cost of financing charged by creditors/ investors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring.
The project generates positive externalities in the form of environmental and public health benefits through reduction of the negative externalities of using fossil fuel based raw materials (i.e. plastics), replaced by the new enhanced renewable materials (i.e. paper).

Objectifs

The objectives of the EIB financing are to support the company in mitigating the impact of the COVID-19 pandemic and to execute its growth investments mainly in research and development (R&D) and commercial expansion.

Secteur(s)

• Industrie - Industrie manufacturière

Montant BEI envisagé (montant approximatif)

EUR 8 million

Coût total (montant approximatif)

EUR 18 million

Aspects environnementaux

The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

Passation des marchés

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

Statut

Signé - 9/12/2021