The European Investment Bank (EIB), on Monday, September 16, announced that it has signed a €40M credit facility with Stark Future to finance the company’s research, development, and innovation activities in the electric motorcycle sector.
The European Investment Bank’s investment in Stark Future is backed by the European Union under InvestEU, which aims to mobilise over €372B of additional investment from public and private sector funds to support EU policy goals from 2021 to 2027.
The announcement comes over a year after signing a €20M loan agreement with Banco Santander to scale up its production capabilities, streamline manufacturing processes, and bolster research and development.
Stark Future: Develop sustainable motorbikes
Based out of Barcelona, Stark Future is developing high-performance, sustainable motorbikes.
The investment from EIB will be crucial for the Spanish company to develop and deploy advanced technologies for the production of new electric motorcycle models for both off-road and on-road use.
The capital injection will also enable the company to expand its current market offerings while contributing to a more sustainable mobility model.
The underlying investments will also support the installation of modern assembly lines and the deployment of advanced technologies to increase production capacity.
Anton Wass, CEO and Founder of Stark Future comments, “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.”
EIB: All You Need To Know
The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives.
The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4B in 2023, approximately €6.8B of which went to climate action and environmental sustainability projects.
Globally, the EIB Group signed €88B of new financing in 2023.
“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,” says 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,“ says Yu Zhang.
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