STARK (IEU G)

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.

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.

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.