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Signature(s)

Amount
€ 120,000,000
Countries
Sector(s)
Poland : € 24,000,000
Denmark : € 96,000,000
Industry : € 120,000,000
Signature date(s)
28/11/2024 : € 24,000,000
28/11/2024 : € 96,000,000
Link to source

Summary sheet

Release date
10 December 2024
Status
Reference
Signed | 28/11/2024
20240051
Project name
Promoter - financial intermediary
DEMANT - HEARING AIDS RDI
DEMANT A/S
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 120 million
EUR 263 million
Location
Sector(s)
Description
Objectives

The project will finance the promoter's research, development and innovation (RDI) investments to develop new technology hearing aids.

The RDI activities focus on innovative solutions in hearing and acoustic technology.

Additionality and Impact

The project concerns RDI investments of Demant, based in Denmark. The project further builds on a regional cluster of excellence in hearing aid technology based around Copenhagen. The company's R&D intensity above sector average contributes positively towards the EU's 3% R&D intensity target. EIB's involvement will help to ensure that the important benefits of bringing novel hearing aid solutions entailed under this project come to fruition in a timely manner. The products and services developed as a result of the project will improve the possibilities of social inclusion, therefore the social value of the project is considered to be positive and over and above the financial return.


EIB's contribution to the project stems from the flexible terms of the loan and helping to crowd-in other financiers, thereby facilitating its full financing and implementation.

Environmental aspects
Procurement

The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An environmental impact assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.

The promoter has been assessed by the EIB as being a private company not 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 EU public procurement legislation then the promoter will have to comply to those rules and the European Commission will be informed accordingly.

Milestone
Under appraisal
Approved
Signed
22 November 2024
28 November 2024
Link to source

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) - DEMANT - HEARING AIDS RDI
Publication Date
17 Dec 2024
Document language
Main Topic
Lending
Document Number
238657085
Document Focus
Environmental Information
Project Number
20240051
Sector(s)
Regions
Countries
Publicly available
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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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