TACTOTEK (EGF VD)

Promoter – Financial Intermediary

TACTOTEK OY

Location

• Finland

Description

TactoTek is a Finnish company founded in 2011, which develops and commercialises Injection Moulded Structural Electronics ("IMSE") production methods and technologies. The project supports the company's investments in innovation and business growth in automotive, home appliances and other applications.

Additionality and Impact

The project supports the policy objective of support for SMEs, as well as innovation and digitalisation by providing tailored venture debt financing to an innovative start-up developing production methods and technologies in the area of in-mould electronics, applicable to the automotive, home appliances and other sectors.
The project entails positive knowledge spill-overs related to industrial design and manufacturing technologies enabling more intelligent, structural electronics applications in various industries, benefitting business and research partners and strengthening the capabilities for advanced manufacturing and digital design technologies in the EU.
EIB's financial contribution facilitates the SME's sustainable growth and helps to maintain its technological edge, despite the adverse economic conditions resulting from the COVID-19 outbreak. Furthermore, it provides a positive signalling effect to crowd-in further financing from private investors.

Objectives

The objectives of the EIB financing are to support the company to mitigate the impact from the COVID-19 pandemic and to execute its growth investments mainly in research and development (R&D) and commercial expansion.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 15 million

Total cost (Approximate amount)

EUR 28 million

Environmental aspects

The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

Procurement

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and thus is not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

Status

Signed - 17/09/2021