The European Investment Bank (EIB) provides a EUR 25 million loan to Doppelmayr Seilbahnen GmbH, member of the Austrian Doppelmayr Group, being a world leader inthe manufacturing and installation of ropeways, to finance investments aimed atconsolidating the existing product and development of new applications based on the existing know-how.
Doppelmayr's current and future R&D activities focus on advanced ropeway technologies and solutions for installations in urban and mountain areas.
The RDI investments will be carried out in Austria and will be implemented until 2017. The EIB loan will support the company's strategy and is expected to contribute to strengthening the innovativeness and competiveness of Doppelmayr.
This long-term loan reflects the EIB's commitment to supporting RDI and promoting the development of midcap companies. The activities are in line with the EU's priority objectives under the Horizon 2020 and are relevant to increase the technological base of EU manufacturing and the competitiveness of the European machine tools industry. By financing these RDI investments, the EIB will help underpin the company's growth and employment.
Doppelmayr's R&D project is supported by 'InnovFin - EU Finance for Innovators', a new range of EIB Group products which benefit from the financial support of the European Union under Horizon 2020 Financial Instruments and are designed to facilitate access to finance for innovative businesses.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
InnovFin financial products
Under Horizon 2020, the EU research programme for 2014-20, the European Commission and the European Investment Bank Group (EIB and EIF) launched in 2014 a new generation of financial instruments and advisory services to help innovative firms access finance more easily. Until 2020, 'InnovFin - EU Finance for Innovators' will offer a range of tailored products which will make available more than EUR 24bn of financing support for research and innovation (R&I) by small, medium and large companies and the promoters of research infrastructures. This finance is expected to support up to EUR 48bn of final R&I investments.
Backed by funds set aside under Horizon 2020 and by the EIB Group, InnovFin financial products support R&I activities, which by nature are riskier and harder to assess than traditional investments, and therefore often face difficulties in accessing finance. All are demand-driven instruments, with no prior allocations between sectors, countries or regions. Firms and other entities located in EU Member States and Horizon 2020 Associated Countries will be eligible as final beneficiaries.
InnovFin MidCap Growth Finance offers long term senior, subordinated loans or mezzanine loans, in order to improve access to finance mainly for innovative larger midcaps (up to 3000 employees), but also SMEs and small midcaps. Loans from EUR 7.5m to EUR 25m will be delivered directly by the EIB.