CIMA (EGFF)

Promoter – Financial Intermediary

CIMCO MARINE AB

Location

• Sweden

Description

The project concerns the development of marine outboard diesel engines offering increased fuel efficiency and environmental compatibility compared to the existing, highly polluting petrol engines. The investments supports research and development (R&D), as well as the capital expenditures related to the manufacturing and testing of the engines. Finally it includes operating expenditures and working capital needs supporting the growth of the company.

Objectives

The R&D objectives include the development of engines with improved efficiency and environmental characteristics in terms of CO2 and local emissions, development of engine components that will improve drag in the water, and development of after treatment solutions to address the upcoming emission regulations. The capital investments will increase the production capacity as well as its efficiency through automation of the production line.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 14 million

Total cost (Approximate amount)

EUR 28 million

Environmental aspects

The R&D activities take place in existing locations and neither have any environmental impact nor do they require any environmental authorizations. The investments related to the production capacity concern mainly tooling and equipment within existing authorised facilities that do not belong to the promoter.

Procurement

The Company is a private sector company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU Public Procurement Directives.

Status

Signed - 5/07/2019