BLUBRAKE (IDGF)

The project will finance Blubrake's research, development and innovation (RDI) activities in the field of anti-lock braking system (ABS) solutions and related business expansion.

The EIB funding will help the promoter to expand its ABS production, which will help to make light electric vehicles, for example e-bikes, safer and more affordable. The project will thus contribute to ease the transition towards green urban mobility.

The proposed operation will be contributing to the strengthening of the European SMEs competitive advantage qualifying as innovative supporting in particular the Innovation , Digital and Human Capital PPG. The project aims at increasing safety levels for urban mobility for light electric vehicles (LEVs) with reduced frequency of accidents for cyclists and pedestrians. This is achieved through the introduction of an innovative ABS product specifically adapted to LEVs which will also integrate to a digital service platform to manage features like predictive collision, predictive maintenance, and sustainable mobility platform for incentives.

The EIB financing is going to send a positive signal to the private capital markets in Italy to support the promoter's growth. The Loan has a maturity up to 7 years which is absolutely unique in the financial market. Part of the remuneration is based on warrants linked to the valuation of the Company at the Maturity or at the exit event, if earlier. The latter makes the EIB financing very innovative.

The initial project RDI activities are expected to be carried out in the existing facility, which is already authorised that will not change their already authorised scope due to the project. An EIA will therefore not be needed as per EIA Directive 2011/92/EU as amended by Directive 2014/52/EU. It could, however, be that the new demonstration assembly/manufacturing plant may require an EIA at the location of project implementation. The Bank's services will verify relevant environmental details during the appraisal.

Blubrake has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that it is subject to the EU public procurement legislation then the EIB would duly inform the European Commission and would require the promoter to apply those rules.