SKYDWELLER (IEU TI)

Skydweller is a Spanish SME developing a solar-powered aircraft mostly for applications in Intelligence, Surveillance and Reconnaissance (ISR), civil security as well as potentially for telecommunications and geospatial mapping. The project will support the R&D activities, operating and capital expenditures of the company, focused on the pre-serial production of aircrafts and the integration capability of ISR payloads according to client specifications.

The project will support the company's R&D efforts to enhance the unmanned aircraft and develop equipment solutions for applications in defence, ISR and telecommunications. The project cost will be incurred in Spain and Italy; contracted and otherwise paid for R&D costs will be excluded from the investment plan.

Skydweller is a European SME developing an Unmanned Aerial Vehicle ("UAV") which consists of the aircraft platform and the supporting system that enables autonomous unmanned missions. The UAV has potential use cases for both intelligence, reconnaissance and surveillance (ISR) as well as civilian applications. The project entails a venture loan to Skydweller to co-fund innovation and growth investments, mainly in Spain and Italy (EU) with the development of the autonomous flight system of the UAV and subsequently the pre-serial production of the aircraft in Italy. The investment addresses market failures of inadequate financing for SMEs and RDI projects in the EU, supporting a project focused on deep tech innovation, artificial intelligence and strategic autonomy in defence and security. The project will generate positive externalities in the form of digital skills, sector knowledge, employment in a less developed region and a contribution to civil security.

The EIB venture loan will grant substantial risk capital at longer maturities and later repayments than current market standards for venture debt, allowing faster execution and greater managerial focus on business strategy, thanks to a more stable capital structure. The EIB investment also signals a stamp of approval by the EU to the market, favouring the crowding-in of new investors.

The EIB would not be able to support this project with the support of InvestEU.

The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the Environmental Impact Assessment (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 EIA.

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