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The European Investment Bank (EIB) has signed a €10m agreement with SAES Getters, an Italian company active in special metallurgy and materials science.

Made available by the EIB and 50% guaranteed by the country’s export credit agency SACE, the loan to SAES will finance its research, development and innovation activities in order to further develop and apply its expertise and competencies in metal science knowledge. SAES focuses on developing advanced material technologies that can be used in a large variety of products applied in different industries, e.g. consumer electronics, medical devices, scientific and research systems, automotive, lighting and telecommunications.

This transaction is supported by a new generation of financial instruments for innovative and growth companies known as ‘InnovFin – EU Finance for Innovators’, which has the financial backing of Horizon 2020. The ‘InnovFin MidCap Growth Finance’ tool is specifically dedicated to improving access to risk finance for R&I projects of midcap and SME companies in the EU.

SAES co-operates with universities and R&D centres across the world, including CERN in Switzerland, ESRF (European Synchrotron Radiation Facility) in France and Cornell in the United States, to which it, inter alia, provides research infrastructure equipment and services.

The EIB is the long term lending institution of the EU owned by its member states. It makes long term finance available for sound investment in order to contribute towards EU policy goals. Under Horizon 2020, the European Commission with the EIB and European Investment Fund has launched a new generation of financial instruments and advisory services to help innovative firms access finance more easily.