The EIB and Stark Future have signed a €40 million loan to invest in innovation and expand electric motorcycle production. The loan will fund Stark’s R&D and manufacturing scale-up, supporting EIB’s climate and technology goals. The operation is backed by the EU’s Invest EU programme.
Barcelona, Spain – September 17, 2024 —
· The loan will fund Stark’s research, development and innovation activities and the scaling-up of the company’s manufacturing capacity.
· Investment will support increased production of e-motorbikes and e-motorcross bikes contributing to the EIB’s technology innovation and climate action goals.
· This operation is backed by the European Union’s InvestEU programme to mobilise public and private sector funds in support of EU policy goals.
Barcelona, Spain ( Zeest Media ) – The European Investment Bank (EIB) and Stark Future S.L. have signed a €40 million credit facility to finance the company’s research, development and innovation activities in the electric motorcycle sector. Stark Future is a pioneering company in the premium electric motorcycle industry headquartered in Sant Boi de Llobregat, Spain. The funding will also finance the scaling-up of Stark Future’s manufacturing capacity, contributing to the company’s growth and market penetration/expansion.
EIB investment will be instrumental for Stark Future to develop and deploy advanced technologies for the production of new electric motorcycles models for both off-road and on-road use, enabling the company to amplify the existing market offer while contributing to a more sustainable mobility model. The underlying investments will also support the installation of modern assembly lines and deployment of advanced technologies to increase production capacity.
The operation aligns with the EIB strategic priorities of climate action and technological innovation. It highlights EIB’s role in supporting cutting-edge technological developments that accelerate the green transition in the mobility and transport sectors while enhancing the resilience of the European supply chain in sustainable technologies.
“This new investment in advanced electric mobility solutions is a clear example of how the EIB is driving the shift to a more sustainable transport model while fostering innovation and competitiveness in the European Union,” said EIB Head of Division Deep-Tech, Digital & Life Sciences Yu Zhang. “Supporting European innovators committed to sustainability like Stark Future is part of the EIB’s roadmap to accelerate the green transition and ensure citizens have access to the most advanced means of transport. “
The EIB’s investment in Stark Future is backed by the European Union under InvestEU, the EU flagship programme to mobilise more than €372 billion of additional investment from public and private sector funds to support EU policy goals in the period 2021-2027.
Anton Wass, CEO and Founder of Stark Future commented, “We are thrilled to partner with the European Investment Bank to accelerate our mission of transforming the motorbike industry with innovative, sustainable technologies. This investment not only represents a significant endorsement of our vision but also enables us to scale up our R&D capabilities and build even more revolutionary products to a global market. Together with the EIB and the support of the European Union, we are committed to setting new standards for performance, sustainability, and design in the motorbike industry.”
The EIB’s investment is expected to have a significant positive impact on the local economy in Spain, particularly in the Sant Boi de Llobregat area, where Stark Future is headquartered. The increase in production capacity is expected to generate skilled job opportunities, contributing to regional economic development
Background information
EIB
The EIB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Globally, the EIB Group signed €88 billion of new financing in 2023.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
Stark Future
Stark Future S.L. is a leading innovator in the electric motorbike industry, dedicated to developing high-performance, sustainable motorbikes. Headquartered in Sant Boi de Llobregat, Barcelona, the company is at the forefront of the shift towards sustainable mobility, combining cutting-edge technology with a commitment to environmental responsibility.
Press contacts
EIB Group
Maite Cordero | m.corderomunoz@eib.org | tel.: +34 606 66 82 62
Website:www.eib.org/press | Press Office: +352 4379 21000 | press@eib.org
Contact Info:
Name: Benjamin Cobb
Email: Send Email
Organization: Stark Future
Phone: +34 628852661
Website: https://starkfuture.com/
Release ID: 89141301
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