TAU GROUP (IEU GT2)

Promoter – Financial Intermediary

TAU ACT GMBH

Location

• Italy

Description

The project concerns the scale-up of capacity of the existing production facility from the current 2,000 tons of wire/year to an annual capacity in the range of 8,000 to 12,000 tons of magnet wire used in all types of powertrain motors in automotive, renewable energy and consumer applications. The Project includes also Promoter's RDI including R&D facility and equipment capex, for the development of new wire solutions in automotive and adjacent markets. The investments are located in in Turin, Italy, for the period 2024-2027."

Objectives

The project supports the InvestEU Main Policy Priority Areas (MPPA) for Research, innovation and digitisation window (RIDW) supporting Sustainable and smart transport and mobility. The project contributes to the development and deployment of more circular, easier to recycle materials (by design) used in high potential sectors for circularity such as batteries and vehicles.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 20 million

Total cost (Approximate amount)

EUR 42 million

Environmental aspects

The project primarily concerns investments in R&D and capital expenditures that are not specifically mentioned under the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by 2014/52/EU) and that are expected to be carried out in existing facilities without changing the already-authorised scope; it would therefore not require an EIA under the Directive 2011/92/EU as amended. The environmental details of the project will be reviewed by the Bank's services during the project appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/24/EU, then the EIB requires the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directives 2014/24/EU as well as Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.

Status

Approved - 24/07/2024