| Project Detail |
The project concerns the financing of a pilot carbon neutral e-fuel facility in Germany as well as the R&D cost related to the further development of the companys Power-to-X technology.
Additionality and Impact
The operation is in line with the InvestEU eligibility of "(2) the development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement".
The Projects external benefits are potentially high as it contributes to the establishment of an industrial value chain in Europe of a competitive innovative technology. The Project will lead to important knowledge development, provide jobs and deploy advanced manufacturing activities in Europe. The Project will furthermore help create the conditions for a hydrogen economy, and the development of a cleaner and more sustainable industry in Europe and lead to lower emissions of pollutants (health benefits) and CO2 (climate benefits).
The EIBs equity-type venture debt will feature performance-linked elements and effectively share in the upside of the venture. EIB will also share in the downside as the investment will be materially exposed to the risk of the company (including high technical, market and financial risks). The EIB would not be able to provide such type of financing support during the period in which the EU guarantee can be used, or not to the same extent, without InvestEU.
Objectives
The loan will finance the promoters research, development and investments (RDI) activities, the construction and operation of a first-of-a-kind plant in Germany for the production of synthetic sustainable aviation fuels (e-SAF) as well as other sustainable chemical products. The project, presented under InvestEU, is co-financed by Breakthrough Energy Catalyst and addresses the climate change transition by helping decarbonise the hard-to-abate aviation industry. Additionally, it consolidates the EIBs role as climate bank, meeting the Green Deal Industrial Plan objectives and the RefuelEU aviation regulation proposed by the European Commission. It is closely aligned with the EIBs strategic priority in relation to innovation and industrialisation, in particular to the deployment of the whole value chain of new technologies.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 108 million |
