NILAR BATTERY ENERGY STORAGE (EDP)

Promoter – Financial Intermediary

NILAR INTERNATIONAL AB

Location

• Sweden

Description

Nilar is a European start-up developing NiMH batteries for Battery Energy Storage Systems ("BESS"), which has entered the commercialisation phase in 2019. The project concerns the expansion and upgrading of Nilar's manufacturing lines, accompanied by increased R&D and sales and marketing efforts in order to gain market share in Europe in the residential PV and storage segment and to enter the commercial and industrial segment, including EV charging.

Objectives

The development of an innovative start-up into a prospering business in the field of technology development, manufacturing and sale of sustainable, safe and cost-competitive innovative batteries for stationary storage applications in Europe. In doing so, the project contributes to the EU's security of supply in components (batteries) that are critical to its economic competitiveness, its energy transition objectives, and hence climate action goals.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 47 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

The activities to be financed are not listed in any annexes of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. The project will help create the conditions enabling the deployment of battery energy stationary storage systems, facilitating the transformation of the energy sector. The project therefore supports EU climate action policy.

Procurement

The promoter has been assessed by the EIB as a private company not subject to EU rules on public procurement or concessions.

Status

Under appraisal - 15/06/2020