The EIB Group has confirmed more than €2.4 billion in new InvestEU-backed financing to support electricity grids, robotics and early-stage “deep tech” companies across Europe.
Five new operations were signed at the EU stand at the trade fair in Hannover, Germany, with the European Investment Bank (EIB) and its subsidiary, the European Investment Fund (EIF), providing guarantees and fund commitments intended to mobilise investment in energy resilience and technology development, the EIB informed.
One deal involves a €250 million EIB guarantee for Commerzbank that is expected to support up to €2 billion of investment in electricity grids in Germany and other EU member states.
A second agreement uses an EIF guarantee of up to €100 million with akf bank, expected to support about €143 million in loans and leases for more than 140 small and medium-sized businesses and smaller mid-sized companies in Germany investing in robotics, automation and artificial intelligence-based digital solutions, it said.
Funding for university spin-outs and early-stage “deep tech”
The EIF is also committing SEK 170 million (around €16 million) to Turbine Capital Fund I, an early-stage Swedish fund focused on commercialising research from technical universities and research organisations, the EIB Group said.
“Deep tech” generally refers to companies built on scientific or engineering advances, rather than consumer apps or services.
In addition, the EIF has approved a €20 million commitment to a third technology transfer fund managed by Atlantic Bridge, targeting €150 million, to invest in university spin-outs and research-led companies in Ireland and across Europe working in areas including semiconductors, space technology, artificial intelligence, cybersecurity and health technologies.
The EIF is also acting as a cornerstone investor with €25 million from InvestEU in Obloo Future of Computing Fund I, a venture capital and technology transfer fund targeting €80 million and primarily investing in Italy.
The announcement included statements from EIB Vice-President Nicola Beer and European Commission Executive Vice-President Stéphane Séjourné, with both linking the financing to energy security and the development of critical technologies.
