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Signature(s)

Amount
€ 21,000,000
Countries
Sector(s)
Poland : € 21,000,000
Industry : € 21,000,000
Signature date(s)
12/09/2024 : € 21,000,000
Link to source

Summary sheet

Release date
25 September 2024
Status
Reference
Signed | 12/09/2024
20230241
Project name
Promoter - financial intermediary
PROJECT RED (I-EU TI)
Vigo Photonics SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 21 million
EUR 42 million
Location
Sector(s)
Description
Objectives

The project concerns the promoter's activities in research and development (R&D) of new photoni -electronic integration (PIC) technology, Infrared (IR) detectors and modules, as well as the related capital expenditures.

The aim is to develop and commercialise new photonic detector products.

Additionality and Impact

The project is line with the InvestEU objective of Thematic Innovation - Strategic Digital Technologies. The project contributes to the Public Policy Goal Innovation, Digital and Human Capital - RDI. The project consists of private sector investments in photonics. Photonics is recognised as one of the Key Enabling Technologies (KETs), having a decisive impact on the future of the European economy. Moreover, the project is in line with Europe's Digital Strategy, European Industrial Strategy, Digital Sovereignty, IPCEI (Important Project of Common European Interest) on microelectronics II and an enabler of the European Green Deal.

 

The project is expected to lead to the development and deployment of innovative product and process technologies, generating significant positive knowledge externalities. Moreover, photonics are an enabling technology that enables innovation, which results in productivity growth across all adopting sectors of the economy.

 

The promoter's strategy depends on significant RDI investments in order to lead the technology development. The promoter thus faces challenging financing needs. The EIB financing, with an innovative structure adapted to the risk profile of the company, allows the promoter to finance its investment plan and generates a positive crowding-in effect for other investors. The EIB loan offers the Company significant drawdown flexibility and a mid-term financing option. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Environmental aspects
Procurement

The project activities do not fall under Annexes I or II of the EU Environmental Impact Assessment (EIA) Directive2014/52/EU amending the EIA Directive 2011/92/EU.

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.

Milestone
Under appraisal
Approved
Signed
12 April 2024
12 September 2024
Related projects
Link to source
Summary sheet
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - PROJECT RED (I-EU TI)
Publication Date
23 Oct 2024
Document language
Main Topic
Lending
Document Number
182001196
Document Focus
Environmental Information
Project Number
20230241
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

News & Stories

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