Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

STARK (IEU G)

Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
Spain : € 40,000,000
Industry : € 40,000,000
Signature date(s)
26/08/2024 : € 40,000,000
Link to source
Data sheet

Summary sheet

Release date
2 September 2024
Status
Reference
Signed | 26/08/2024
20240028
Project name
Promoter - financial intermediary
STARK (IEU G)
STARK FUTURE SL
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million
EUR 94 million
Location
Sector(s)
Description
Objectives

The project comprises the company's Research, Development, and Innovation (RDI) activities for the development of new motorbike platforms and models, the further development of the company's proprietary technologies, the deployment of production technology to scale-up the manufacturing capacity. The investments will incur in Spain over the period 2024-2027.

The project will support the promoter's investments in Research, Development, and Innovation (RDI) in the field of technologies and products for electric motorbikes for both off-road and on-road applications.

Additionality and Impact

The Project concerns the Promoter's investment in RDI on new motorbikes platforms, models, and electric propulsion technologies, as well as the deployment of production technology to support its growth plans.


The operation is in line with the InvestEU Research, Development, and Innovation objective through the deployment of technologies and processes. In particular, the investments are aligned with the specific eligibilities described in the Schedule A.1.2, Research Innovation and Digitalisation policy Window (RIDW), Article 5, paragraph 1.1 European Green deal Innovation, and more specifically under 1.1.3 Sustainable and smart transport and mobility, point (a) Research, development, and innovation in zero-emission road transport vehicles.


The Project's activities are in line with the Bank's IDHC (Innovation, Digital and Human Capital) public policy goal and therefore are eligible for the Bank's financing under the Research, Innovation and Digital (RID) policy objective. The Project contributes in full to the EIB Climate Action and Environmental Sustainability (CAES) policy objective.


The Project is eligible under Article 309, point (c) Common interest.


The financing of this Project supports Research, Development, and Innovation (RDI) activities, which generate significant positive knowledge, technology, and environmental externalities.


The investments targeted by the financing will support suboptimal investments inherently to: i) Information asymmetries due to higher risk levels associated to early stage firms, with mainly intangible assets or insufficient collateral, and focusing on higher risk activities; ii) suboptimal investment which require the development of innovative financial solutions.


The EIB's participation is expected to have a positive signalling effect, crowding in additional financiers for the company and it will provide additional financial flexibility and unlocks long term funding for the implementation of this project. The project would not have been carried out (to the same extent) by the EIB's Innovative form of financing without the support of InvestEU.

Environmental aspects
Procurement

The project consists of operative expenditures for RDI on electric motorbike technologies and products as well as deployment of technology to increase the Promoter's manufacturing capacity inside an existing site. The project's activities are not listed in any of the Annexes of EIA Directive 2011/92/EU amended by Directive 2014/52/EU. The project's activities contribute in full to the Bank's Climate Action and Environmental Sustainability (CA&ES) cross-cutting objective.

The promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, thus not being subject to EU rules on public procurement. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.

Milestone
Under appraisal
Approved
Signed
8 August 2024
26 August 2024
Related projects
Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - STARK (IEU G)
Publication Date
25 Sep 2024
Document language
Main Topic
Lending
Document Number
223279092
Document Focus
Environmental Information
Project Number
20240028
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications